Trump's Actions Against Powell Stir Controversy in Congress

Institutions have noted that before the new Federal Reserve Chair can initiate interest rate cuts, U.S. President Donald Trump may have to abandon punitive actions against Powell. According to Odaily, Trump's criminal lawsuit against Powell has angered some of his allies in Congress and prompted a key Republican lawmaker, Tillis, to vow to block all Federal Reserve nominations until the investigation concludes. Tillis remains firm in his stance. Meanwhile, Trump has not backed down, even stating his willingness to wait until Tillis retires in January 2027 before seeking Senate approval for Walsh.