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Republican Senator Lisa Murkowski (R-AK) has issued a statement on X backing Republican colleague Thom Tillis's (R-NC) opposition to the Department of Justice's criminal investigation into Fed Chair Jerome Powell. 

• Murkowski wrote, "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. My colleague, Senator Tillis, is right in blocking any Federal Reserve nominees until this is resolved."
• Tillis said in a statement earlier that he would use his position on the Senate Banking Committee to derail the confirmation of Powell's yet-to-be-named successor, “I will oppose the confirmation of any nominee for the Fed—including the upcoming Fed Chair vacancy—until this legal matter is fully resolved.” Assuming no Democrats voted in favour of a hypothetical nominee, Tillis's vote would be sufficient to block Trump's nomination from advancing to a confirmation vote. 

US Senator Lisa Murkowski (R-AK), posts on X, "After speaking with [Fed Chair Jerome] 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. My colleague, Senator Tillis, is right in blocking any Federal Reserve nominees until this is resolved."

• In a statement published on 11 Jan, retiring Sen. Thom Tillis (R-NC) said, “I will oppose the confirmation of any nominee for the Fed — including the upcoming Fed Chair vacancy — until this legal matter is fully resolved”.
• When it comes to replacing Powell at the end of his term in May, President Donald Trump's eventual nominee will need to be confirmed in a majority vote in the Senate. With Murkowski and Tillis expressing their intention to hold the process up, it would only take two more Republicans to break ranks to erase Majority Leader Sen. John Thune (R-SD)'s majority.
• Last week, five GOP senators voted with Democrats on a War Powers Resolution vote related to Venezuela. While the issue is entirely separate from the Fed, the fact that Republican leadership cannot be assured of a majority in the Senate on contentious issues presents risks to the administration's plans for the Fed from May onwards.