Republicans Rise Against Trump's Fed Chief Investigation

Republican senators are challenging a Trump administration investigation into Federal Reserve Chair Jerome Powell, deeming it a threat to the Fed's independence. Some have threatened to block Trump's nominees for the central bank. The investigation is considered a distraction from critical economic governance.

A growing number of Republicans are expressing concerns over the Trump administration's attempts to indict Federal Reserve Chair Jerome Powell. Senators, including Thom Tillis, are pushing back by threatening to block Trump's central bank nominees, citing a breach of confidence in the Fed's independence.

The Justice Department's investigation, publicly revealed on Sunday, accuses Powell of misleading Congress regarding a Fed headquarters renovation. Despite criticising Powell's fiscal management, lawmakers assert the criminal probe undermines the Fed's critical economic role.

Amidst dissent within the GOP, some loyalists and hardline allies continue to support the administration's actions. Meanwhile, Democrats accuse Trump of leveraging the Justice Department for political gain ahead of the midterms, potentially jeopardizing economic governance.

(With inputs from agencies.)