Thune warns DOJ's probe of Fed Chair Powell 'better be real' and 'serious' amid political backlash

By Fox News · Fox News

Senate Majority Leader John Thune , R-S.D., warned that the allegations against Federal Reserve Chair Jerome Powell must be legitimate, and not politically influenced, as bipartisan unease over the criminal probe continues to ripple through the Senate. "I haven't seen the case or whatever the allegations or charges are," Thune said. "But I would say they better be — they better be real and they better be serious." Thune’s comments followed a wave of bipartisan anger over the Department of Justice’s (DOJ) criminal probe into Powell, with Senate Republicans threatening to block any of President Donald Trump’s future Fed nominees until the issue was resolved. SENATE ADVANCES $174B PACKAGE AS MINNESOTA ICE SHOOTING FUELS DHS FUNDING FIGHT Sen. Thom Tillis, R-N.C., vowed to "oppose the confirmation of any nominee for the Fed — including the upcoming Fed Chair vacancy," shortly after the news of the probe into Powell broke. He was later backed up by Sen. Lisa Murkowski, R-Alaska, who said after speaking with the central bank chief that "it’s clear the administration’s investigation is nothing more than an attempt at coercion," and she threatened a congressional investigation into the DOJ. When asked about Tillis’ position, Thune said that people would "react to this differently," but reiterated that without knowing the full breadth of the investigation, it was hard to jump to conclusions. "But as I've said earlier, I think it's really important that it can resolve quickly and that there not be any appearance of political interference with the Fed or its activities," he said. POWELL REVEALS WHAT IT WOULD TAKE TO STEP DOWN FROM THE FED AS PRESSURE MOUNTS Powell contended that the investigation was not related to testimony he gave before the Senate Banking Committee last year regarding the $2.5 billion renovation of the Fed’s headquarters in Washington, D.C. , but rather a consequence of the Federal Reserve "setting interest rates based on our best assessment of what will s…