A minority press release from the U.S. Senate Committee on Banking, Housing and Urban Affairs reports that Senator Elizabeth Warren, the committee’s Ranking Member, has sent a letter to President Trump questioning his involvement in the Department of Justice’s investigations into Federal Reserve Governors. The letter follows Treasury Secretary Scott Bessent’s testimony to the committee that a decision to sue or criminally investigate a Fed Chair over interest rate decisions would be “up to the President.” Warren’s letter references public reports that the Department of Justice opened a criminal investigation into Chair Powell on January 11, 2026, after Trump repeatedly pressed the Federal Reserve to cut rates in 2025 and threatened to fire and sue Powell. It also asks whether decisions relating to investigations of Powell and Governor Cook, and any future decision to investigate or sue Kevin Warsh, Trump’s nominee to serve as Federal Reserve Chair, were or would be made by the President. The letter requests responses from President Trump to three specific questions on these points by February 13, 2026.
U.S. Senate Committee on Banking, Housing and Urban Affairs 2026-02-06
U.S. Senate Committee on Banking, Housing and Urban Affairs ranking member presses President Trump on role in DOJ investigations of Federal Reserve officials
Senator Elizabeth Warren, Ranking Member of the U.S. Senate Committee on Banking, Housing and Urban Affairs, sent a letter to President Trump questioning his involvement in the Department of Justice's investigations into Federal Reserve Governors. The letter, referencing a criminal investigation into Chair Powell, requests responses from Trump by February 13, 2026, regarding his role in decisions to investigate or sue Powell, Governor Cook, and nominee Kevin Warsh.