Anger is mounting among Republicans after Federal Reserve Chair Jerome Powell
revealed on Sunday that the Justice Department had opened a criminal
investigation into him, marking an extraordinary escalation in President Trump’s
public efforts to coerce Powell into lowering interest rates.
“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,” Sen. Thom Tillis (R-NC), a member of the
Senate Banking Committee, said in a scathing statement on Sunday. “It is now the
independence and credibility of the Department of Justice that are in
question.”
Tillis then vowed to oppose the confirmation of any nominee for the Fed until
the legal matter is “fully resolved.” This includes the upcoming Chair vacancy
as Powell is due to step down as Chair in May, though he may continue to serve
on the board afterward.
Calling the investigation “nothing more than an attempt at coercion,” Sen. Lisa
Murkowski (R-AK) appeared to go a step further, suggesting that it is the
Justice Department that should be investigated—not Powell. “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,” she added.
According to Powell, the Justice Department’s investigation relates to testimony
he gave before the Senate Banking Committee last June about renovations of the
Federal Reserve’s office headquarters in Washington. The costly renovations have
prompted the president and his allies to baselessly suggest that fraud may have
been committed. As Powell said in his video statement on Sunday, such assertions
are widely viewed as a cover for Trump’s campaign to pressure Powell to cut
interest rates and lower the cost of federal debt.
“This is about whether the Fed will be able to continue to set interest rates
based on evidence and economic conditions—or whether instead monetary policy
will be directed by political pressure or intimidation,” Powell said in a rare
video message.
Powell, a Republican who was first nominated as a member of the Federal Reserve
board by Barack Obama and later promoted to Chair by Trump during his first
term, vowed to continue his duty of public service, which “sometimes requires
standing firm in the face of threats.”
News of the criminal investigation comes as the Fed’s rate-setting meeting is
scheduled to take place later this month, where it is expected to halt its
recent rate cuts.
Shortly after Powell’s announcement, Trump claimed in an interview with NBC News
on Sunday that he did not have any knowledge of the DOJ’s investigation into the
Federal Reserve. The president also denied that the subpoenas had anything to do
with pressuring Powell on interest rates.
“What should pressure him is the fact that rates are far too high,” Trump said.
“That’s the only pressure he’s got.”
But Trump’s own words leading up to the subpoenas appear to contradict his
denials. In fact, it was as recently as December 29 when Trump publicly
suggested that he may pursue legal action against Powell about the Federal
Reserve building renovations.
“It’s going to end up causing more than $4 billion—$4 billion!” Trump said in a
press conference with Israeli Prime Minister Benjamin Netanyahu, insisting it
was the “highest price of construction per square foot in the history of the
world.”
“He’s just a very incompetent man, but we’re going to probably bring a lawsuit
against him,” Trump added.
Rep. Mike Lawler (R-NY), who sits on the House Financial Services Committee,
told Politico that “the independence of the Federal Reserve is paramount and I
oppose any effort to pressure them into action.”
The Department of Justice did not immediately respond to a request for comment
about Powell’s statement or criticism from Republican lawmakers.
The dollar has since dropped, with the price of gold jumping to a record price
after news of the DOJ’s investigation broke.
Trump’s attacks on the Federal Reserve go well beyond Powell. In August, the
president attempted to fire Lisa Cook, a member of the board, based on unproven
allegations of mortgage fraud, as part of the same campaign to pressure the Fed
into lowering rates. The Supreme Court temporarily blocked Trump’s move, and it
is scheduled to hear arguments next week. The case will decide whether the
president has the power to fire a board member of the Federal Reserve for any
reason.
Tag - Authoritarianism
This Saturday’s “No Kings” protests, at thousands of sites around the country,
are expected to draw huge numbers of demonstrators fed up with the
constitutional overreach and autocratic drift of President Donald Trump’s
administration. But according to some of the most powerful Republicans in
Washington, something more nefarious is at work.
“This is part of antifa, paid protesters,” Transportation Secretary Sean Duffy
told Fox News. Speaker of the House Mike Johnson called it the “Hate America
Rally” and claimed that it would feature “pro-Hamas” and “antifa people.” It was
a “small but very violent and vocal group,” said Rep. Tom Emmer of Minnesota.
Kansas Sen. Roger Marshall warned that “Soros-paid…professional protestors”
would be taking to the streets. “Hopefully it will be peaceful—I doubt it.”
No Kings organizers and participants I spoke with this week, from leaders of
major national organizations to retired volunteers at small local groups, have
responded to the intensifying rhetoric from the right-wing with a mix of
incredulity and resolve.
“The initial reaction was visceral laughter, when I first saw it, and the second
reaction was, gosh Mike, thanks for the free publicity,” said Ezra Levin, a
co-founder of Indivisible, a lead organizer of the weekend event, of Johnson’s
comments. “It’s funny that he knows that the phrase ‘No Kings’ is so
unobjectionable that if you watch him talk now he just twists himself into knots
to not say that.”
But Levin’s third reaction, he said, was more serious. This was, after all, a
ruling political party attempting to undercut the freedom of assembly because it
feared the imagery such peaceful assemblies might produce. At the last No Kings
rally in June, Levin noted, he and his wife—Indivisible’s co-founder, Leah
Greenberg—led a crowd of 100,000 in Philadelphia in the Pledge of Allegiance.
“Any authoritarian regime is scared of one thing more than anything else, which
is peaceful mass people power,” he said, because it challenges the idea “that
they are entirely in control and hold the cards.”
For Republican officials, it’s easier to assert that the resistance they’re
facing is coming from a shadowy fifth column, than to grapple with the fact that
millions of ordinary people are so fed up. But it’s still a deeply strange
assertion to anyone with a passing familiarity with Indivisible, an organization
that began after the 2016 election as a simple Google Doc on how Trump opponents
could pressure their elected representatives. (A 2020 Atlantic story on one
group of suburban activists who had made use of Indivisible’s guide was titled
“Revenge of the Wine Moms.”) But of course Levin was going to say this wasn’t
all part of a plot to burn down American cities. So I called up some other
organizers.
Demonstrators participate in the nationwide ”No Kings Good Trouble” protest
against Donald Trump, his policies, and continued ICE raids in Cincinnati, Ohio,
on July 17, 2025, at Veterans Park. Jason Whitman/NurPhoto
“We have 1.8 million members in the AFT—I’m sure somebody’s gonna say to me that
someone of the 1.8 million members subscribes to that philosophy but there is no
organizing within the AFT on behalf of anything that’s called ‘Antifa’ that I’ve
ever seen,” said Randi Weingarten, president of the American Federation of
Teachers—which, not to belabor the point, is a union consisting of teachers.
A volunteer for another partner organization, Mennonite Action—“a movement of
Mennonites, Christians, and friends”—said in an email that the group was holding
40 training sessions around the country this month on subjects such as
“Nonviolent Action 101,” and “faith based non-cooperation in the authoritarian
moment.”
“I suppose if that makes us anti-fascist, the label applies,” the volunteer
said. It might—but if your definition of a violent mob includes well-organized
Mennonites, that says more about you.
Other partner organizations include the Center for Biological Diversity, which
is currently running a petition to save sea turtles, and National Nurses United,
a union representing, you guessed it, nurses. “You are clearly seeing people
resisting what’s happening and how it’s affecting them in their everyday lives,”
said Cathy Kennedy, NNU’s president.
When I spoke with Greg Broyles, a member of an Indivisible group in Roanoke,
Virginia, which is listed as one of more than 200 partners for No Kings, he
seemed mystified by the way Republicans were characterizing protestors.
“To compare Indivisible to antifa is going to make antifa just laugh their
bellies off,” he said. “We have people in our group who don’t want to use
offensive wording on our signage.”
Broyles is a 63-year-old former Marine and a semi-retired real-estate investor.
And a disproportionate number of his group’s members are older residents like
him.
“To say that there’s some sort of conspiracy of left-wing groups is absurd—it
just means you haven’t operated in a left-wing space,” he said Just like people
say, well, academics all conspire together. You obviously never sat in a room
with a room full of professors! It’s just a ridiculous aspersion that’s being
cast by the right on the left. All we are are people who want to raise our
families and also enjoy the welfare state that we agreed to participate in.”
Thousands of demonstrators take part in the “No Kings, Free DC” protest calling
for statehood and voting rights for residents of the District of Columbia in
Washington, DC.Robyn Stevens Brody/Sipa USA/AP
Other local leaders who are partnering on the protests said their groups skewed
older too. “We have time, we can meet—that’s kind of how it is with a lot of
things in this town,” said Lisa Swanson, who retired from the US Postal Service
and now volunteers with Morgan County Indivisible in the West Virginia panhandle
town of Berkeley Springs. Mary Beth Furman, who retired to Scottsdale four years
ago after a career in marketing and who now writes the newsletter for her group
Stand Indivisible Arizona, said that “If you come to any of our protests, it’s a
bunch of old grandmas and grandpas and dogs.”
Furman’s group describes itself as non-partisan and engages in a lot of
activities that aren’t political at all. They hold food drives and collect
shoes. One of the group’s next events is a letter-writing campaign. “We’re gonna
write thank-you notes to the institutions that are doing a good job, that we
support, that are doing good things—we want them to know we recognize you, keep
it up” she said. (She wasn’t sure yet who would fit the bill—naturally, another
committee was planning the meetup.)
But these are the sorts of people the Speaker of the House and other prominent
Washington Republicans are accusing of being affiliated with “antifa”—which the
White House, in turn, has accused of domestic terrorism.
For Indivisible groups and other organizations participating in big protests,
de-escalation is the name of the game, as they push to pro-actively avoid
anything that would even give a passing resemblance to disorder. Hunter Dunn, a
national spokesperson for another No Kings partner, 50501, said organizers have
been “training tens of thousands of volunteers in de-escalation and community
care,” both through online and in-person sessions. Levin noted that all No Kings
events are required to have a safety plan in place.
Furman, whose group has held de-escalation trainings and promoted similar events
from the ACLU (another No Kings partner which is, again, not antifa), preaches a
zen-like mantra to her fellow group members when a driver of truck flips them
off: “If nobody sees the finger does the finger really exist?”
Still, organizers view the rhetoric as a clear act of intimidation, from a
movement helmed by a man who once sicced a mob against Congress itself. They’re
on guard for right-wing agitators attempting to create a scene, and are
conscious of the fact that some of the cities they’ll be marching in—including
Chicago and Portland—are currently crawling with federal agents.
“They want to take us off our message, and they want to take us off what the
point is, which is that there are millions of people in America that do not like
what’s going on right now,” Weingarten said. “They may have really different
policies, differences from me or my union or other educators or other people in
the labor movement, but where we come together is that we should all have a
right to govern ourselves through a democracy—not through this push to disappear
people, to militarize our streets, to hate someone’s opponents to the point that
they would abuse the power of the government to go against people who they
disagree with.”
To organizers, these accusations of violence and sinister conspiracies are cause
for caution and planning, but they’re also sort of the point. It’s not called
the No Mild-Mannered Republicans protest, after all. If they weren’t so
concerned about lawlessness and intimidation and extra-constitutional methods,
they wouldn’t be marching at all.
When New York Attorney General Letitia James accused Donald Trump of committing
fraud by lying to banks and insurance companies about the value of his
properties, he never really denied it. Everyone does things like this, his
lawyers argued, and no bank ever lost money—so what’s the big deal?
> All three Trump cabinet members denied any wrongdoing.
But now that he’s in back office, Trump seems to have decided that telling banks
things that aren’t true while seeking loans is a very big deal after all. His
administration has launched investigations into James herself and Lisa Cook, a
Biden-appointee on the Federal Reserve’s board of governors, alleging both women
improperly told banks that two different properties each owned were both their
primary residences. He’s previously made similar accusations against one of his
main Democratic antagonists in Congress, California Sen. Adam Schiff.
The investigations were launched with the help of Bill Pulte, the Trump
appointee leading the Federal Housing Finance Agency. On Friday, Reuters
reported that relatives of Pulte appear to have done the very thing Trump and
Pulte are targeting James and Cook over. Reuters says that Pulte’s father and
stepmother had simultaneously requested “homestead exemptions”—a discount on
property taxes for a primary residence—on two different properties, one in
Michigan and one in Florida. It’s not clear if it is illegal to do so, and in
some cases, tax experts told Reuters, it is permissible—for example if a married
couple live separately. But after being asked about the Pultes’ situation, local
tax officials promptly revoked the exemption on the Michigan house, Reuters
reported.
The news about Pulte’s relatives comes after a Thursday report from ProPublica
revealed that three different members of Trump’s cabinet appear to have
simultaneously claimed multiple properties as their primary residence.
ProPublica found records showing Labor Secretary Lori Chavez-DeRemer,
Transportation Secretary Sean Duffy, and Environmental Protection Agency
administrator Lee Zeldin all claimed two different homes as primary residences.
Chavez-DeRemer made the claims about her two homes (one in the Oregon
Congressional district she previously represented, and one in Arizona, where she
is known to vacation) within two months of each other. All three cabinet members
denied any wrongdoing and accused ProPublica of liberal bias.
According to ProPublica, it is not necessarily illegal to claim multiple homes
as your primary residence at the same time—and in some cases, it may be
encouraged by bank employees—but it is generally frowned upon. Banks typically
offer reduced mortgage rates for primary residences, and higher rates for second
homes; the practice stems from a belief that people are more likely to
diligently repay the mortgage on a property if they live in it full-time.
It’s 7 p.m. on Thursday and Elli, a 19-year-old transplant from Chattanooga,
Tennessee, just took an Adderall. The DC resident, who goes by they/them
pronouns and asked Mother Jones not to publish their last name, needed the boost
of energy. They’re drained from spending the last several nights roving the city
on foot to surveil the FBI and ICE agents who are—under the orders of President
Donald Trump—surveilling the people of DC.
“Wherever there are people watching, law enforcement gets intimidated,” the
lanky teenager explained of their efforts as we walked past tactical military
vehicles in Navy Yard.
> There is plenty of backlash—it’s just a grittier and less organized form of
> it, carried out by Washingtonians with cellphone cameras and some spare time.
Elli wouldn’t make it back to their apartment until 2 a.m. on Friday, after
visiting six DC neighborhoods and uploading 10 social media posts alerting
followers to various forms of law enforcement activity. In all, Elli’s iPhone
shows they’ve walked upwards of 20,000 steps a day while documenting the federal
takeover.
And Elli was just one of more than a dozen of self-appointed watchdogs I
observed participating in what amounted to an after-dark patrol squad on
Thursday night. The scene contrasted with what a columnist described as a
“weirdly quiet” local response in a Politico piece titled, “Why Washington
Residents Aren’t Flooding the Streets to Protest Trump,” published earlier that
day.
While it’s accurate to say there hasn’t been anything close to a modern-day
March on Washington since Trump brought in the National Guard to address DC’s
purported crime problem, the DC locals who are wrestling with the increased
presence of law enforcement say that’s for good reason. Megaphones and mass
demonstrations are unlikely to mollify the hazards of a heightened police
state—and these tactics may even exacerbate what Trump-opposing locals fear
most: bigger dispatches of law enforcement, which could target more immigrants
and other vulnerable populations.
“Being a middle-aged white man, I can be outside and keep an eye on what’s
happening,” says Andrew Hall, a DC resident of 19 years who lingered around the
corner of 14th and U St NW around 9:30 p.m., after a concert protesting the
National Guard presence ended. “It’s not safe for others to be out in public, or
even go to the grocery store right now.”
But what’s clear from merely existing in my city this week is that the “lack of
street-level backlash” the Politico columnist lamented isn’t the full picture of
DC’s response to the federal agents donning tactical vests near our landmarks.
There is plenty of backlash—it’s just a grittier and less organized form of it,
carried out by Washingtonians with cellphone cameras and some spare time. The DC
resistance isn’t manifesting this week as recognizable members of Congress
marching up and down Pennsylvania Avenue with CNN cameras in tow, but as an
array of ordinary DC residents documenting what’s happening in their
neighborhoods and mobilizing pop-up actions based on the information being
shared.
In the densely populated Northwest DC neighborhood of Columbia Heights on
Tuesday, for example, locals noticed about a dozen Homeland Security personnel
outside a metro station. “ICE go home!” some 150-plus people chanted at the
agents, several of whom had their faces covered with masks. The growing crowd
and their pinpointed cameras were apparently enough to deter the ICE agents from
the area, which has a high population of Black and Hispanic residents.
In Mount Pleasant, an even smaller display of opposition took place recently
when a local woman approached what appeared to be a handful of off-the-clock
federal agents sitting outside a restaurant. She repeatedly asked them if they
were locals, where they lived, and what agency they worked for while filming
them. Declining to answer her questions, the three or four individuals
eventually walked to a black Hyundai Sonata with an out-of-state license plate.
“Nobody likes you,” she yelled in a video shared by the news outlet Migrant
Insider on Thursday. “Get the fuck out of my neighborhood!”
On Wednesday, Vice President JD Vance, Defense Secretary Pete Hegseth, and White
House deputy chief of staff Stephen Miller took a field trip to visit the
National Guard troops patrolling outside Union Station. While there, the
politicians got some Shake Shack—plus a stupendous amount of heckling. The
opposition included professional protestors who have shown up daily at the train
station since May, as well as many residents who happened to be there for their
daily commute.
In the days since, more and more DC locals have been trying to gather
information what to do should they encounter the federal agents, or the
politicians who ordered them here. On a Zoom call organized by the DC-statehood
group Free DC Friday morning, more than 250 showed up and asked questions about
best practices for fighting back. In break-out rooms, attendees discussed
walking around their neighborhoods with signs alerting people to the presence of
ICE, as well as joining ward-based Signal chats to organize response efforts
among neighbors. In the Zoom chat, one attendee asked how they could warn others
that ICE was in their area at that very moment.
DC residents are routinely reporting such sightings on ICEblock, an iPhone app
tailor-made for locals to pinpoint ICE agents in real time. There’s also an
emergency hotline (202-335-1183), which then shares the reports with the
immigrant community. Beyond these dedicated spaces, I’m also seeing neighbors
post sightings of law enforcement and police checkpoints on Nextdoor, which
historically has been known as a watering hole for nosy neighbors and humdrum
bigots, but in DC—at least recently—has turned into a space where people are
trying to help strangers.
“On The Corner Of 4th And Rhode Island Ave RIGHT NOW,” one Nextdoor user posted
alongside an image of an ICE-labeled vehicle on Thursday. “ICE is back in Mount
Pleasant at Bancroft & Park Pleasant Apartments,” shared someone else.
“You don’t need to do what I’m doing to be helpful,” Elli says of the various
ways DC residents can warn their neighbors. “All you need is a phone.”