DOJ Subpoenas Fed, Alleged Pressure on Monetary Policy
- Federal Reserve Chair Jerome Powell accuses the Department of Justice (DOJ) of using criminal charges to influence the Fed’s monetary policy decisions.
- The DOJ issued grand jury subpoenas related to Powell’s Senate testimony in June about a renovation project for historic Fed offices.
- Powell claims the charges are unrelated to his testimony and stem from the Fed’s independent interest rate decisions against White House preferences.
- President Trump has consistently pressured the Federal Reserve to lower bank rates since taking office.
- Powell is expected to step down as chairman in mid-May but may remain on the Board of Governors until 2028.
Fed Chair Jerome Powell alleges that DOJ subpoenas aim to pressure the Federal Reserve’s monetary policy, highlighting tensions with President Trump’s administration over interest rate decisions. Powell maintains that criminal charges result from the Fed’s independent stance rather than compliance with political demands.
Source (3.2)https://cryptobriefing.com/powell-doj-threaten-fed-interest-rates/?rand=59535
