U.S. Treasury Secretary Yellen agreed that the Senate committee could investigate Federal Reserve Chairman Powell

U.S. Treasury Secretary Yellen acknowledged during a closed-door meeting with Senate Republicans on Wednesday the suggestion made by some members—that the Senate Banking Committee, rather than the Department of Justice, should investigate Federal Reserve Chairman Powell. A knowledgeable lawmaker stated that this move is intended to "test" whether it might persuade North Carolina Republican Senator Thom Tillis to lift his hold on the Fed nominee.

"They want to dangle this condition in front of Thom and see if he accepts it," the lawmaker said. "Thom was expressionless at the time." Other sources indicated that this could be a viable compromise.

A Republican congressman stated, "What the president wants is an investigation," and having the Banking Committee "satisfy this desire for an investigation" is certainly an option. However, the aforementioned first lawmaker expressed skepticism: "If Thom accepts, I would be quite surprised."