March 9 (Reuters) – Federal Reserve Chair Jerome Powell had a flurry of calls with U.S. lawmakers in the week following his January 11 disclosure of a Department of Justice investigation into his statements to Congress, his calendar shows.
The calendar notations did not indicate the content of the 13 calls, each of which lasted 10 or 15 minutes. But they took place in the days immediately after Powell, in an unusual Sunday evening video statement, called the DOJ’s subpoenas “pretexts” for intensifying the Trump administration’s pressure on the Fed to cut interest rates.
Several of the lawmakers Powell spoke with, including Republican senators Lisa Murkowski of Alaska and John Kennedy of Louisiana, issued public statements of support for Powell and condemnation of the DOJ probe. Powell also spoke with Senate Banking Committee chair Tim Scott, who later said he felt Powell was inept but probably did not commit a crime.
There was no record of a call with Republican Senator Thom Tillis, who shortly after Powell’s video statement vowed to use his spot on the Senate Banking Committee to block any Fed nominee while the DOJ probe stays open.
The Fed releases Powell’s monthly calendars with about a two-month lag.
President Donald Trump has nominated former Fed governor Kevin Warsh to replace Powell when his leadership term ends May 15.
Tillis’ hold effectively freezes that process, though Treasury Secretary Scott Bessent has indicated that a confirmation hearing will go forward.
Powell has made outreach to the senators and congressmen who oversee the U.S. central bank a hallmark of his eight years as Fed chair, spending more time in one-on-one meetings and in phone calls with Americans’ political representatives than any modern Fed chair.
But even for Powell the week of January 11 was unusual. The last time he spoke with more lawmakers in a single week was in February 2025, ahead of his twice-yearly testimony before Congress for which he usually prepares with a series of one-on-ones with key lawmakers.
(Reporting by Ann Saphir, editing by Deepa Babington)
