Hands Off the Fed: Stop Trump’s Power Grab

The Department of Justice escalated a politically charged investigation into Federal Reserve Chair Jerome Powell, widely viewed as retaliation for resisting White House pressure to slash interest rates. Legal experts and economists warn this is not about accountability — it’s about control. Using the threat of prosecution to coerce an independent central bank is a hallmark of authoritarian governance.

The Federal Reserve’s independence exists for a reason. For decades, it has helped shield the U.S. economy from political whims, keeping inflation lower and markets more stable than in countries where leaders directly control monetary policy. Undermine that independence, and working families pay the price through higher inflation, market chaos, and economic insecurity.

This moment is urgent. Powell’s term ends in May 2026, and the administration is already signaling it wants a more compliant Fed Chair. If Congress fails to act now, it opens the door for any president to weaponize law enforcement against officials who refuse to fall in line — silencing dissent and consolidating power far beyond the Constitution’s limits.

This is not a partisan issue. Republican lawmakers, including Senators Murkowski and Tillis, have publicly pushed back on the investigation, warning that politicizing the Fed threatens economic stability and democratic norms. When even members of the president’s own party raise alarms, Congress must listen.

We call on Congress to immediately reaffirm and protect the Federal Reserve’s independence, block the use of prosecutorial power to influence monetary policy, and defend the rule of law.