Squawk Pod Debating the DOJ’s Criminal Investigation into Jay Powell 1/13/26
Jan 13, 2026
Eamon Javers, a CNBC reporter, and Kevin McCarthy, the former Speaker of the U.S. House, delve into the contentious DOE investigation of Federal Reserve Chair Jay Powell. They explore the surprising Republican dissent and its impact on market confidence. Javers breaks down the complexities of the inquiry while McCarthy argues that the probe undermines the president’s economic messaging. The discussion also touches on Trump’s influence within the GOP and whether accountability can exist without a criminal inquiry—a thought-provoking examination of politics and power.
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Republican Rift Over Powell Probe
- The DOJ probe of Fed Chair Jay Powell has fractured Republican unity in an unusual way for this administration.
- Multiple Republicans and former officials publicly criticized the investigation, signaling a rare party split over economic institutions.
White House Denial Meets Unclear Signals
- The White House insists it did not direct the DOJ, but public perception and reported calls to the president complicate that claim.
- Eamon Javers notes uncertainty about Treasury Secretary Janet Yellen's exact stance and the administration's role in the inquiry.
Audit Before Criminal Inquiry
- Use inspectors general and congressional hearings to address alleged waste before jumping to criminal probes.
- Eamon Javers points out the Fed publishes construction and spending details that Congress or IGs can review first.