U.S. Treasury Secretary Yellen agrees that Senate committee can investigate Federal Reserve Chair Powell

MarsBitNews · 2026-02-12T10:45:01+00:00

U.S. Treasury Secretary Yellen, in a closed-door meeting with Senate Republicans, supported an investigation by the Banking Committee into Federal Reserve Chair Powell, aiming to persuade North Carolina Republican Senator Tillis to lift his opposition to the Fed's nomination. This move is seen as a compromise plan, but its outcome remains uncertain.

MarsBitNews

2026-02-12 10:45:01

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The Mars Finance report states that U.S. Treasury Secretary Yellen agreed on Wednesday during a closed-door meeting with Senate Republicans to some of the proposals put forward by lawmakers—namely, that the Senate Banking Committee, rather than the Department of Justice, conduct an investigation into Federal Reserve Chair Powell. An informed lawmaker said this move was intended to “test” whether it might persuade North Carolina Republican Senator Tom Tillis to lift his hold on the Fed nominee. “They want to use this condition to see if Tom will accept,” the lawmaker said. “Tom was expressionless at the time.” Another source indicated that this could be a feasible compromise. A Republican member of Congress stated, “The president wants an investigation,” and having the Banking Committee “fulfill this investigative desire” is one option. However, the aforementioned lawmaker was skeptical: “If Tom accepts, I would be very surprised.”

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