Murkowski Backs Tillis to Safeguard Fed Independence Against Trump's Nominees

U.S. Senator Lisa Murkowski supports a plan to block President Trump's Federal Reserve nominees following DOJ threats against Fed Chairman Jerome Powell. Murkowski emphasizes the need to protect Fed independence to maintain market stability and suggests congressional investigation into the DOJ's actions.

U.S. Senator Lisa Murkowski expressed her support for a Republican initiative led by Thom Tillis aimed at blocking President Donald Trump's nominees for the Federal Reserve. This move follows threats of indictment from the Justice Department against Fed Chairman Jerome Powell over the weekend.

Murkowski highlighted the critical importance of maintaining the Federal Reserve's independence, warning that a loss of autonomy could jeopardize market stability and the economy at large. She voiced these concerns publicly on X, marking a stance that diverges from the usual Republican alignment with Trump's initiatives, given the Senate's 53-47 Republican majority.

In discussions with Powell, Murkowski learned of the subpoenas U.S. central bank received, which Powell dismissed as politically motivated efforts to influence monetary policy. Murkowski denounced the DOJ's maneuvers as coercive and advocated for a congressional inquiry into the matter, particularly questioning the relevance of investigating the Fed over renovation expenses deemed routine.

(With inputs from agencies.)