During questioning, a witness refused to pledge that the Justice Department would always act independently of the White House, drawing sharp criticism from committee Democrats who pressed for accountability and safeguards.

Chair Jerome Powell said he will continue to serve as a governor after his term as chair ends, citing recent legal actions against the Fed and saying he will stay until a Justice Department investigation is concluded with 'finality and transparency.' He warned that legal assaults on the Fed risk politicizing monetary policy.

Asked about reports of a DOJ grand jury probe into Federal Reserve Chair Jerome Powell, Rep. Brian Stiles said he did not have full information, called for getting the facts and defended the importance of an independent Federal Reserve while allowing for public critique.