Trump insists that the criminal investigation into Powell should go "all the way," ignoring resistance within the party

BlockBeats News, February 3 — U.S. President Trump stated this Monday that the criminal investigation into Federal Reserve Chair Jerome Powell should continue and will not be halted due to opposition within the Republican Party. Previously, Republican Senator Thillis warned that if the investigation is not concluded, he will oppose any new Fed chair nominations or cause Kevin Waugh’s nomination to stall.

Trump told the White House that federal prosecutor Jennina Piro, who is responsible for the investigation, should “find the facts and draw conclusions.” Powell has confirmed he is under criminal investigation and countered that the related charges stem from the Fed not accelerating rate cuts as requested by Trump, emphasizing that interest rate decisions are based on public interest.

The report pointed out that the investigation involves a high-cost renovation project at the Fed headquarters. Powell’s term will end in May, and the investigation and nomination battles have increased market uncertainty about the Fed’s independence and policy outlook.