Arkansas Republican calls Trump DOJ’s Powell probe an 'unnecessary distraction'

On Sunday, January 11, U.S. Federal Reserve Chairman Jerome Powell made a bombshell announcement: He is facing a criminal investigation from the U.S. Department of Justice (DOJ).

The announcement sparked an immediately backlash on Capitol Hill — mostly from Democrats, including Sen. Elizabeth Warren (R-Massachusetts). But some GOP lawmakers are speaking out as well. Sen. Thom Tillis (R-North Carolina) declared that he "will oppose the confirmation of any nominee for the Fed — including the upcoming Fed Chair vacancy — until this legal matter is fully resolved." And House Financial Services Committee Chairman French Hill (R-Arkansas) is speaking out as well.

When CNN's Manu Raju asked House Speaker Mike Johnson (R-Arkansas) if DOJ is being weaponized against Powell, he responded, "Of course not." But Hill, in contrast, is voicing his displeasure with the Powell investigation — which, Punchbowl News' Jake Sherman reported, Hill considers an "unnecessary distraction."

Hill, in a statement reported by Sherman, noted that him and Powell go way back and were working together during George H.W. Bush's presidency. The older President Bush, elected in 1988, left office in January 1993 when Bill Clinton was sworn in as president.

"I've known Chairman Powell since we worked together at the Treasury during the George H.W. Bush Administration," Hill said. "Then, as now, I know Mr. Powell to be a man of integrity with a strong commitment to public service."

Hill made it clear that he considers a criminal investigation of Powell ridiculous.

"Pursuing criminal charges relating to his testimony on building renovations at a time at a time when the nation's economy requires focus and creates an unnecessary distraction," the House Financial Services Committee chairman said. "The Federal Reserve is led by strong, capable individuals appointed by President Trump, and this action could determine this and future Administrations' ability to make sound monetary policy decisions."