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Trump Expands List of Targets with Actions Against Powell and the Fed

2026-01-12
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ATLANTA (AP) — In a pronounced shift following his second inaugural address, Donald Trump has initiated a campaign targeting a range of officials who have opposed him or failed to meet his expectations. Promising a fair application of the law, Trump instead appears to be leveraging governmental powers against perceived adversaries, indicating a tumultuous new chapter in his presidency.

With significant implications for the independence of various federal institutions and the U.S. justice system, Trump’s actions raise critical questions about the balance of power in American democracy. His reliance on federal authority to target political opponents could further exacerbate divisions within the government and society, challenging the principle of checks and balances.

Key Developments

  • Federal Reserve Chair Jerome Powell has been subpoenaed by the Justice Department following his defense of the Fed’s independence and monetary policy decisions.
  • Trump attempted to dismiss Fed board member Lisa Cook, the first such removal bid in over a century, over alleged mortgage fraud claims.
  • Former FBI Director James Comey’s indictment has been dismissed due to an illegally appointed prosecutor.
  • New York Attorney General Letitia James faced federal charges that were also thrown out under similar circumstances.
  • John Brennan, former CIA director, is the subject of a grand jury inquiry related to the investigation into Russian election interference.
  • Jack Smith, the special prosecutor leading probes into Trump, is under investigation by an agency in the Justice Department.
  • California Senator Adam Schiff’s personal finances are being scrutinized as part of a broader political investigation.

Full Report

Trump’s Actions Against Powell

In his latest comments, Trump declared that the “vicious, violent and unfair weaponization of the Justice Department” would end, though actions taken since signal otherwise. The inquiry involving Powell, initiated after the Fed chairman’s Senate testimony, has drawn condemnation from Powell, who describes it as a pretext aimed at undermining the central bank’s independence in establishing monetary policy.

Pursuit of Federal Reserve Officials

Trump has recently tried to remove Lisa Cook from the Federal Reserve Board, claiming mortgage fraud associated with her due process. Cook, who is the first Black woman to serve on the Fed’s board, has filed a lawsuit to retain her position following the Supreme Court’s decision allowing her to continue as her case proceeds.

The Fallout for Former Officials

James Comey received federal indictment charges, which were later dismissed due to procedural issues with the prosecutor’s appointment. Similarly, Letitia James’s civil case against Trump has led to retaliatory legal actions, demonstrating a pattern of targeting officials seen as antagonists.

New Investigations into Others

John Brennan has reportedly been informed that he is a target of a federal grand jury investigation, further reflecting the ongoing scrutiny of former officials who challenged Trump’s policies. Concurrently, Jack Smith is facing investigations into his alleged political motivations while leading probes into Trump, including the January 6 Capitol insurrection.

Political Retaliation Claims

Senator Adam Schiff, a prominent critic of Trump, also finds himself under investigation for his personal finances, intensifying the climate of political retribution that has characterized Trump’s recent presidency.

Context & Previous Events

The current wave of investigations against Trump’s critics follows his presidential appointments that have historically sought to preserve federal independence—particularly the Federal Reserve. Trump’s administration has not hesitated to confront officials who fail to align with his policy wishes, creating significant tension between elected officials and independent agencies throughout his tenure.

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