Trump Allies Express Concern Over Powell Investigation's Potential Fallout

Concerns are mounting among Trump administration officials and allies regarding the Justice Department's criminal investigation into Federal Reserve Chair Jerome Powell. Treasury Secretary Scott Bessent reportedly warned President Trump of potential negative impacts on financial markets and Senate confirmation hurdles for future Fed nominees. Senator Thom Tillis has stated he will oppose any Fed nominee until the legal matter is resolved, potentially complicating the confirmation process. Other Republican senators also expressed worries about market stability and rising interest rates.