The South Carolina Republican has not weighed in on the central bank’s independence after a hearing he led comes under DOJ scrutiny.

President Donald Trump denied that he was involved in the Justice Department's decision to subpoena the Federal Reserve. Chair Jerome Powell said the Federal Reserve was being targeted for making decisions that “serve the public" rather than the president’s “preferences.

Jerome Powell faces escalating legal pressure from the Trump administration, raising concerns about Federal Reserve independence ahead of key court hearings and policy decisions.

The top Republican in the U.S. Senate acknowledged on Monday that the Trump administration's threat to indict Federal Reserve Chair Jerome Powell could make it harder for Congress to confirm President Donald Trump's nominees for the ​U.

The Federal Reserve is less likely to make cuts this year as it grapples with a criminal probe, analysts say. That could undermine one of Trump's goals.

The Justice Department’s decision to open up a criminal investigation of Jerome H. Powell, the chair of the Federal Reserve, is a major escalation in the pressure campaign against the central bank to cut interest rates.

Some Republicans on Capitol Hill are showing more of a willingness to break with President Donald Trump and his administration on key issues.

Learn the significance of a Fed pivot, when the Federal Reserve shifts its monetary policy, and how these changes affect the economy and financial markets.