Republican senator backs move to block Trump's Fed nominees as chairman faces criminal probe

At least two Republican senators have said they will oppose the confirmation of any new nominees to the US Federal Reserve after the Justice Department threatened to indict the central bank's current chairman, Jerome Powell. US President Donald Trump has previously threatened to fire Powell, slamming the traditionally independent Fed for not cutting its short-term interest rate.

Jan 12, 2026 - 13:00
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Republican senator backs move to block Trump's Fed nominees as chairman faces criminal probe
At least two Republican senators have said they will oppose the confirmation of any new nominees to the US Federal Reserve after the Justice Department threatened to indict the central bank's current chairman, Jerome Powell. US President Donald Trump has previously threatened to fire Powell, slamming the traditionally independent Fed for not cutting its short-term interest rate.

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