Fox Anchor Says Trump Admin Is ‘Backing Away’ From Powell Probe as Guest Calls It a ‘Big Unforced Error’

Fox Business anchor Stuart Varney reported Tuesday on the latest developments in the Trump Justice Department’s criminal investigation into Federal Reserve Chairman Jerome Powell and said it appears the Trump admin is “backing away.” Varney brought in market analyst David Bahnsen to discuss the ongoing impact of the Powell threat, which has led to widespread accusations that Trump is trying to politicize the Fed by weaponizing the DOJ against a domestic enemy.

Varney began by saying he wanted to now turn to the “criminal investigation into Federal Reserve Chair Jerome Powell. In a post on X, U.S. Attorney Jeanine Pirro wrote that she started the probe because she got no response from her inquiries at the Fed. She may be backing away a little—that’s my sense.”

“House Financial Services Chair French Hill says the investigation creates an unnecessary distraction. Maybe he wants to back away as well. He says the investigation could undermine Trump’s future ability to make sound decisions. I think they’re backing away. What do you say?” Varney asked his guest.

Bahnsen replied, “Well, I definitely think they’re backing away. I think President Trump wants them to back away, and I want to say Secretary [Scott] Bessent is pushing for them to back away. This was a really big unforced error.”

Varney agreed, saying, “I think— Just let it fade. That’s all. Stop it now, let it fade.”

Bahnsen added, “That’s right, and markets helped do that yesterday by just sort of coming back into the day. Republicans pushed back. It’s a good time to let this thing go away.”

Watch the clip above via Fox Business.