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White House Frustration Grows Over Investigation into Fed Chair Powell

KVIA•Wednesday, January 14, 2026 at 1:56 AM•CNN Newsource

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AI Summary

The White House is facing increasing frustration regarding a criminal investigation led by DC US Attorney Jeanine Pirro into Federal Reserve Chair Jerome Powell. The investigation, which caught senior officials off guard, has prompted a damage control effort as they seek to distance President Trump from the inquiry. Powell confirmed receiving grand jury subpoenas, suggesting the probe aims to pressure him into lowering interest rates, a move Trump has long advocated. Republican senators, including Thom Tillis, have expressed their discontent, vowing to withhold support for any nominee to replace Powell until the investigation concludes. This situation complicates Trump's plans for a smooth transition at the Fed, especially as his term nears its end.

Key Details: • Jerome Powell confirmed he received grand jury subpoenas related to the investigation. • Senator Thom Tillis stated he won't support any Fed chair nominee until the inquiry is resolved. • The investigation raises concerns about Trump's ability to confirm a new Fed chair before May.

politics trump investigation federal-reserve white-house

People & Organizations

Donald TrumpDepartment of JusticeFederal ReserveJerome PowellScott BessentThom TillisBill PulteJeanine Pirro

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