00:00The Trump administration's investigation into the Federal Reserve and its chair, Jerome Powell, is triggering sharp pushback, including from Republicans.
00:12Several Republican lawmakers speaking out against the investigation, warning it could undermine the central bank's independence.
00:18North Carolina Senator Tom Tillis, writing on social media, quote,
00:22If there were any remaining doubt whether advisers within the Trump administration are actively pushing to end the independence of the Federal Reserve, there should now be none.
00:32Senator Lisa Murkowski saying Monday she spoke with Powell and called the investigation, quote, nothing more than attempt at coercion.
00:40In a statement, Murkowski added, if the Department of Justice believes an investigation into Chair Powell is warranted based on project cost overruns, which are not unusual,
00:50then Congress needs to investigate the Department of Justice.
00:53Even President Trump's Treasury Secretary, Scott Besant, has privately expressed unhappiness with the decision to open a criminal investigation into Powell, according to CNN.
01:03The report says Besant is concerned the probe could rattle financial markets.
01:08White House Press Secretary Caroline Levitt repeated Monday that Trump did not order the Justice Department to investigate Powell,
01:14who says the probe is retaliation for refusing to set interest rates based on the president's preferences.
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