RINO Senator Thom Tillis is threatening to block any future Fed nominations over the Justice Department’s federal criminal investigation into Fed Chair Jerome Powell.
Federal investigators opened a criminal investigation into Fed Chairman Jerome Powell.
Powell is under fire for the cost of renovating the Fed’s DC headquarters. The cost ballooned from $1.9 billion to $2.5 billion.
In July, GOP Congresswoman Anna Paulina Luna sent a letter to the DOJ accusing Powell of perjury.
“On June 25, 2025, Chairman Powell provided testimony under oath before the U.S. Senate Committee on Banking, Housing, and Urban Affairs regarding the renovation of the Federal Reserve’s Eccles Building. In his statements, he made several materially false claims,” Luna’s letter said.
Rep. Luna said Powell was lying about the cost of the renovations.
“Separately, in a letter to the Office of Management and Budget (OMB) Director Russell Vought, Chairman Powell characterized the changes that escalated the cost of the project from $1.9 billion to $2.5 billion as minor. However, documents reviewed by congressional investigators indicate that the scope and cost overruns of this project were neither minor in nature nor in substance,” Luna wrote.
On Sunday, The New York Times reported that US Attorney for DC Jeanine Pirro opened the investigation into Powell in November.
Tillis, a Senate Finance Committee member, lashed out at the Trump Administration and said he will oppose any nominee for the Fed – including the upcoming Fed Chair vacancy over the DOJ’s investigation into Powell.
“I will oppose the confirmation of any nominee for the Fed – including the upcoming Fed Chair vacancy – until this legal matter is fully resolved.
TILLIS says he will OPPOSE any future nominee to the Fed “until this legal matter is fully resolved” https://t.co/U4Ggl8Cesv pic.twitter.com/0pefLlQ90k
— Brendan Pedersen (@BrendanPedersen) January 12, 2026
Powell responded to the DOJ’s criminal probe in a video message released Sunday evening.
“I have deep respect for the rule of law and for accountability in our democracy. No one, certainly not the chair of the Federal Reserve, is above the law, but this unprecedented action should be seen in the broader context of the administration’s threats and ongoing pressure,” Powell said.
“This new threat is not about my testimony last June or about the renovation of the Federal Reserve buildings,” Powell added in a video message.
“It is not about Congress’s oversight role. The Fed, through testimony and other public disclosures, made every effort to keep Congress informed about the renovation project. Those are pretexts. The threat of criminal charges is a consequence of the Federal Reserve setting interest rates based on our best assessment of what will serve the public, rather than following the preferences of the president,” Powell said.
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