Talk of the Town
(WASHINGTON) — Former Attorney General Pam Bondi is not expected to sit for a closed-door deposition next week, after the Department of Justice informed the House Oversight Committee on Wednesday that its subpoena is essentially moot because it sought Bondi’s testimony in an “official capacity as Attorney General” — and President Donald Trump removed her from office last week.
This is a developing story. Please check back for updates.
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(WASHINGTON) — Rep. Jim Clyburn, a South Carolina Democrat, told ABC News on Thursday that he is running for reelection, not announcing his retirement.
Clyburn, who took office in the House in 1993, is set to appear at South Carolina Democratic Party HQ in Columbia at 10:30 a.m. to make his campaign announcement.
This is a developing story. Please check back for updates.
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(WASHINGTON) — The Justice Department investigation into Federal Reserve Chairman Jerome Powell is drawing backlash from former Federal Reserve and Treasury officials as well as current members of Congress, including those in President Donald Trump’s own party.
A bipartisan group of top economic officials released a blistering statement on Monday calling the probe an “unprecedented attempt to use prosecutorial attacks to undermine” the central bank’s independence.
“This is how monetary policy is made in emerging markets with weak institutions, with highly negative consequences for inflation and the functioning of their economies more broadly. It has no place in the United States whose greatest strength is the rule of law, which is at the foundation of our economic success,” read the statement from Alan Greenspan, Ben Bernanke, Janet Yellen, Tim Geithner, Jacob Lew, Hank Paulson and others.
The investigation, announced by Powell in a rare video message on Sunday, is related to Powell’s testimony last June about the multi-year renovation of the Federal Reserve buildings in Washington. But Trump has made Powell a frequent target of his attacks and push to cut interest rates.
White House National Economic Council Director Kevin Hassett, who is on Trump’s short list to be the next Federal Reserve chair, said time will tell if the probe is a pretext for firing Powell over interest rates.
“Well, in the fullness of time, we’ll find out whether it looks like a pretext,” Hassett, who denied involvement in the probe, told CNBC in an appearance on Monday. “But right now, we’ve got a building that’s got, like, dramatic cost overruns and, you know, plans for the buildings that look inconsistent with the testimony. But, you know, again, I’m not a Justice Department person. I hope everything turns out OK.”
Republican Sen. Thom Tillis, who serves on the Senate Banking Committee, said he will oppose the confirmation of any Trump nominee to the Federal Reserve until legal matters concerning Powell are resolved, which could make it difficult for a nominee to advance out of committee.
“If there were any remaining doubt whether advisers within the Trump Administration are actively pushing to end the independence of the Federal Reserve, there should now be none. It is now the independence and credibility of the Department of Justice that are in question,” Tillis said in a statement on Sunday night.
Republican Sen. Lisa Murkowski, in a post on X on Monday, said Tillis is “right in blocking any Federal Reserve nominees.”
“After speaking with Chair Powell this morning, it’s clear the administration’s investigation is nothing more than an attempt at coercion. If the Department of Justice believes an investigation into Chair Powell is warranted based on project cost overruns — which are not unusual — then Congress needs to investigate the Department of Justice. The stakes are too high to look the other way: if the Federal Reserve loses its independence, the stability of our markets and the broader economy will suffer,” Murkowski posted on X.
House Financial Services Chairman Rep. French Hill, a Republican, said pursuing criminal charges against Powell is “an unnecessary distraction.” Sen. Kevin Cramer, another Republican on the Senate Banking Committee, said that he does not believe Powell is a criminal and that he hopes the criminal matter will soon be put to rest.
House Speaker Mike Johnson told reporters on Monday that “if the investigation is warranted, then they’ll have to play that out.” When pressed if he believed the probe is warranted, Johnson said, “I have not reviewed his testimony, so I am not sure, but that’s not really my lane.”
A spokesperson for Attorney General Pam Bondi said Bondi “has instructed her U.S. Attorneys to prioritize investigating any abuse of taxpayer dollars.” Powell said in his statement the probe was fueled by Trump’s monthslong pressure campaign on him to lower interest rates.
Sen. Elizabeth Warren, the top Democrat on the Senate Banking Committee, slammed Trump as a “wannabe dictator” over his campaign against Powell.
“Acting like the wannabe dictator he is, Trump is trying to push out the chairman of the Federal Reserve Board and complete his corrupt takeover of America’s central bank so that it serves his interests, along with his billionaire friends,” Warren said in a speech about the future of the Democratic Party ahead of 2028 at the National Press Club.
President Trump denied any involvement in the criminal probe during a brief interview with NBC News on Sunday night but continued his criticism of Powell’s leadership.
ABC News’ Lauren Peller contributed to this report.
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(WASHINGTON) — President Donald Trump on Tuesday posted new renderings of his “Great Ballroom” and said it “will also be used for future Presidential Inaugurations.”
“Two views of the Great Ballroom being built on the site of our wonderful White House — It is on budget, and ahead of schedule!” Trump said of the construction on the former site of the demolished East Wing.
In the social media post, Trump claimed that the new ballroom “will also be used for future Presidential Inaugurations,” because of the ballroom’s expected “unprecedented structural, safety, and security features.”
According to the Library of Congress, the Constitution lays out the language of the inaugural oath but does not dictate where the ceremony must take place.
The Library of Congress adds that in the 21st century, “inaugurations usually take place on the west front of the U.S. Capitol,” but adds that “there have been many other inauguration sites in the nation’s history.”
Trump initially said in July that the $300 million ballroom project would not interfere with the existing White House structure. Later, when crews began tearing down the East Wing, an official said the “entirety of the East Wing will be modernized” as the massive 90,000 square foot ballroom is built.
The National Trust for Historic Preservation has sued to stop the project.
In January, a federal judge presiding over the challenge signaled doubts about the Trump administration’s argument that the president has the legal authority to undertake the renovations and to fund them with private donations.
That judge said the decision on whether to block Trump’s renovation plans will “hopefully” come this month.
ABC News’ Steven Portnoy and Nathan Lee contributed to this report.
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