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

ZkProver · 2026-02-12T11:47:12+00:00

U.S. Treasury Secretary Yellen supports an investigation by the Banking Committee into Federal Reserve Chair Powell in a closed-door meeting with Senate Republicans to explore whether they can persuade Senator Thune to lift his opposition to the Fed nominee. A senator expressed skepticism, believing Thune might not accept this proposal.

ZkProver

2026-02-12 11:47:12

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ChainCatcher News, U.S. Treasury Secretary Yellen on Wednesday agreed with some lawmakers’ proposal during a closed-door meeting with Senate Republicans—an investigation into Fed Chair Powell conducted by the Senate Banking Committee rather than the Department of Justice. An informed lawmaker said this move is 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 it,” the lawmaker said. “Tom was expressionless at the time.” Another source said 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 senator was skeptical: “If Tom accepts, I would be very surprised.”

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