President Donald Trump recently argued that the support from conservatives is influencing the Justice Department’s investigation into Federal Reserve Chairman Jerome Powell, suggesting it appears to be politically motivated.
In an interview with CBS News’ Tony Dokoupil, Trump was questioned about the scrutiny surrounding Powell, particularly regarding his congressional testimony last summer focused on costly renovations to two significant Fed buildings in Washington, D.C.
Despite being critical of Powell, Trump has maintained that Powell was not at fault for instigating the investigation.
“Some conservatives believe this looks like political vengeance,” Dokoupil remarked. Trump, however, countered by pointing out that some conservatives support the investigation as well, stating, “There are more people who like it than dislike it.”
Trump continued to slam Powell as a “terrible” Fed chairman, accusing him of enforcing excessively high interest rates. He argued that the renovations could have been done for much less—around $25 million—while decrying the billions being spent and suggesting it points to either corruption or incompetence on Powell’s part.
Later in the conversation, Trump acknowledged the criticisms of Powell but also insisted that not all prominent conservatives share the same views. He encouraged others to seek out differing opinions, almost dismissively stating, “You don’t have to take my word for it.”
When pressed about the claims of political retaliation, Trump sidestepped the question, instead emphasizing his economic achievements. He also faced some pushback from Republicans, including Trump ally Senator Kevin Cramer, who called for the investigation into Powell to be halted, expressing belief in Powell’s integrity.
