Neil

that's gone over budget.

He claimed the construction story was a pretext for Trump, not a Powell fan, to weaponize the legal system against him over interest rate disagreements.

Here's Jay.

The video has set off a titanic clash over the future of Fed independence, what economists consider the bedrock of America's world-class financial markets.

Many prominent Republicans rallied to Powell's side, criticizing the DOJ's probe as flimsy, as did those who previously had his job.

Janet Yellen, Ben Bernanke, and Alan Greenspan, the three living past Fed chairs, released a note condemning the DOJ for going after Powell.

In a statement, they wrote, "...this is how monetary policy is made in emerging markets with weak institutions..."

with highly negative consequences for inflation and the functioning of their economies more broadly.

It is no place in the United States whose greatest strength is the rule of law, which is at the foundation of our economic success.

The statement cut across ideological lines.

It was signed by former Treasury Treasury secretaries from both parties, as well as a bipartisan group of former White House economists.

Toby, what were some other reactions to this remarkable video?

Investors might be shrugging their shoulders because the fact that they don't think this DOJ probe has legs because there's been a ton of pushback, especially from Republican lawmakers on the Senate Banking Committee, which is going to approve the Trump's next Fed chair that's going to replace Powell in May.

And they just don't believe that this pick will get through because there's been a lot of pushback to this probe.

Lisa Murkowski, who's a senator from Alaska, who's on this bank committee, she's a Republican.

She came out in support of Powell.

She said 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.

And she joined Senator Tillis, who came out on Monday morning and said, I'm not going to approve any Fed chair that Trump proposes to replace Powell until this investigation is wrapped up.

It was pretty interesting what happened on the internet yesterday.