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 DOJ served grand jury subpoenas to the Fed over Powell’s Senate testimony, with Powell disclosing the criminal inquiry Sunday and reports saying Pirro's office launched the probe in November.
- With renovation costs reported above $4 billion, President Donald Trump has repeatedly criticized Powell over interest-rate policy and the Fed's renovation project, saying costs topped $4 billion.
- Monday morning trading showed dollar weakness as the dollar dropped steeply before recovering, 30-year Treasury yield spiked then settled, and gold jumped nearly 3 percent.
- Inside the White House, aides are reportedly distancing themselves as some Republican senators threaten to block Fed confirmations, sources say, after the DOJ probe was launched without top officials' knowledge.
- Former Justice Department employees and watchdogs highlight changes to the Justice Manual and Public Integrity Section that removed vetting safeguards, critics say, risking partisan prosecutions and eroding Fed independence.
17 Articles
17 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...
Increases investors' concern about the independence of the Central Bank of the United States
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…
Trump Administration Opens Criminal Probe Into Jerome Powell For Crime Of Not Cutting Interest Rates
Federal Reserve Chair Jerome Powell released a highly unusual weekend video message to announce that the Department of Justice served the nation’s central bank with grand jury subpoenas, signaling a criminal investigation targeting the Fed and specifically Powell. It’s the sort of response one would expect from a national leader responding to an unprovoked attack by a rogue state, which — under the circumstances — might be the appropriate aesthe…
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