US Edition5 questions about the DOJ probe into the Fed, Jerome Powell
The DOJ investigation into Fed Chair Jerome Powell centers on his congressional testimony about a $4 billion Fed building renovation, with subpoenas served and political tensions rising.
- On Friday, the U.S. Department of Justice served grand jury subpoenas to the Federal Reserve over Jerome H. Powell's Senate testimony, and Powell disclosed the criminal inquiry Sunday after the D.C. U.S. Attorney's office launched the probe in November.
- With renovation costs reported above $4 billion, tensions between the White House and the Fed have deepened, as President Donald Trump repeatedly criticized Powell over interest-rate choices and the renovation project.
- Monday morning trading showed dollar weakness as it dropped steeply before recovering, 30-year Treasury yield volatility spiked then settled, and gold jumped nearly 3 percent.
- Inside the White House, aides and allies are alarmed as the U.S. Attorney in D.C. reportedly opened the probe without notifying Treasury or Justice officials, prompting scrutiny, while Treasury Secretary Scott Bessent warned it 'made a mess.'
- Former Justice Department employees highlight Justice Manual changes and a diminished Public Integrity Section removed safeguards, risking partisan prosecutions and potentially eroding Fed independence.
14 Articles
14 Articles
Trump aide clams up during brutal grilling from CNN's Kaitlan Collins on Fed chair probe
A top economic adviser for President Donald Trump was forced to take cover following a barrage of pointed questions Tuesday by CNN's Kaitlan Collins.Kevin Hassett, a conservative economist who serves as director of the National Economic Council in the Trump administration, took questions from report...
The Jerome Powell Clusterfuck Is a Clusterfuck of Pam Bondi's Own Making
On Sunday, the politically astute Fed Chair Jerome Powell posted a video describing subpoenas he received on Friday, which he claimed (credibly) were part of an effort to attack the independence of the Fed. This new threat is not about my testimony last June or about the renovation of the Federal Reserve buildings. It is not about Congress’s oversight role; the Fed through testimony and other public disclosures made every effort to keep Congress…
DOJ probe of Powell provokes backlash
WASHINGTON — The Trump administration's criminal investigation of Federal Reserve Chair Jerome Powell appeared Monday to embolden defenders of the U.S. central bank against the efforts of President Donald Trump to control the Fed.
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