See below for reactions by Virginia members of Congress (Democrats, that is) to the Trump Department of INJustice’s “ criminal investigation into the Federal Reserve and subpoena of Chair Jerome Powell following an unprecedented year-long pressure campaign from the Trump Administration.” As always, this is dangerous, authoritarian, anti-democratic and should NOT be normalized in any way.
Kaine statement on TRUMP justice department’s ATTEMPT TO BULLY the Federal Reserve
WASHINGTON, D.C. – Today, U.S. Senator Tim Kaine (D-VA) released the following statement regarding the Department of Justice’s (DOJ) criminal investigation into the Federal Reserve and subpoena of Chair Jerome Powell following an unprecedented year-long pressure campaign from the Trump Administration:
“The Federal Reserve was designed to be independent from the executive branch so it could make decisions based on data and current economic conditions—not the whims of any President. This investigation into the Federal Reserve and Chair Powell is yet another example of the Trump Administration attempting to strongarm an independent government body and official into doing what Trump wants—not what’s best for the American people. Our economy needs stability and a clear strategy to tackle the affordability crisis Americans are facing every day. Trump undermining Fed independence will have negative implications on America’s financial stability, and lead to higher borrowing costs and inflation for families across the country.”
Kaine has been a leader in standing up to President Donald Trump’s ill-advised economic policies, including his reckless broad-based tariff regime. In November, Kaine passed three pieces of bipartisan legislation to undo Trump’s global tariffs and his tariffs on Canada and Brazil. The House has refused to bring these bills to a vote, even as a November poll found that 65 percent of Americans disapprove of how Trump is handling tariffs, and a December poll found that just 36 percent of Americans approve of Trump’s handling of the economy.
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STATEMENT OF U.S. SEN. MARK R. WARNER
~ On the independence of the Federal Reserve ~
WASHINGTON – U.S. Sen. Mark R. Warner (D-VA), a senior member of the Senate Committee on Banking, Housing and Urban Affairs, released the following statement:
“The Fed was designed to operate independently, insulated from political pressure, so that it can make tough decisions based on data and the long-term health of the economy, not the whims of any one president. That independence provides the stability that markets, investors, and everyday Americans rely on. Using the threat of criminal prosecution to pressure the Fed over interest rates is a direct assault on that foundation and puts the economic security of millions of Americans at risk. Uncertainty and instability can ripple through the economy, affecting borrowing costs and making it harder for families to buy a home, run a small business, or afford everyday necessities like food, fuel, and diapers.
“Unfortunately, we have seen this pattern before. Over the past year, the Justice Department has repeatedly targeted the president’s perceived political adversaries, only to have courts and grand juries reject these cases as baseless and politically motivated. We have also seen the president attempt to remove a sitting Federal Reserve Board member, underscoring his willingness to attack the Fed for refusing to fall in line.
“The administration’s latest attacks on Federal Reserve Chair Jerome Powell are just the most recent example of Donald Trump’s chaos-driven approach to the economy – and once again, it’s working Americans who will pay the price. From impulsive trade wars and erratic tariffs to deficit-exploding tax cuts and attacks on Fed independence, President Trump has shown time and again that he’s more interested in political theater than helping the American people. The result is higher costs for families, uncertainty for businesses, and diminished confidence in our economic leadership around the world.”
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Rep. Don Beyer (D-VA08): “Trump’s phony investigation of Fed Chair Powell on made up charges jeopardizes Fed independence, a key to our economic success. It’s part of a larger pattern of Trump trying to prosecute and jail those who cross him—thuggish, autocratic behavior that threatens our democracy.”
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Rep. Eugene Vindman (D-VA07): “The Fed’s independence is essential the stability of our economy and affordability. DOJ needs to stop playing politics with the economy.”
The Fed’s independence is essential the stability of our economy and affordability. DOJ needs to stop playing politics with the economy. https://t.co/Di3sUCeCUO
— Congressman Eugene Vindman (@RepVindman) January 12, 2026
Former Rep. Tom Perriello (D-VA05): “We all pay the price for this mafia-style shakedown of the Fed”
Rep. James Walkinshaw (D-VA11): “Launching a criminal probe into Federal Reserve Chair Jerome Powell is naked retribution from a President who cannot tolerate independent institutions. Another gross abuse of prosecutorial power aimed at intimidating public servants who refuse to bend to political demands.”
Rep. Subramanyam Statement After DOJ Launches Criminal Investigation into Federal Reserve Chair Powell
WASHINGTON, DC – U.S. Representative Suhas Subramanyam (VA-10) released the following statement after the Department of Justice announced a new criminal investigation into Federal Reserve Chair Jerome Powell:
“This sham investigation of Jerome Powell is part of a larger pattern of this administration coercing and intimidating regulators for the president’s benefit. In this case, he could wreck our economy and monetary policy for the foreseeable future. The Federal Reserve’s independence is what has historically kept us out of terrible depressions. We don’t want to see any more of the economic hardship this administration has brought on the American people.”
