US EditionPowell Probe Could Backfire on DOJ
Observers warn the DOJ probe into Federal Reserve Chair Jerome Powell may appear politically motivated amid President Trump's months-long push for Powell's removal.
- President Donald Trump has pressed for Jerome Powell's removal for months as the Justice Department launched a criminal probe into Powell's congressional testimony, led by D.C. U.S. Attorney Jeanine Pirro.
- A federal judge this month invalidated two subpoenas the Justice Department issued to the Fed, effectively dismantling the criminal probe, and Pirro vowed to appeal.
- Powell made clear this past week he will not resign from the Fed's Board of Governors until the Justice Department investigation is resolved, saying, 'That is what the law calls for.'
- A key Republican senator has committed to blocking Kevin Warsh's confirmation until the Powell investigation concludes, complicating the Senate confirmation process.
- With Powell's term ending in less than two months and Warsh stalled, the investigation risks creating a shadow Fed chair, observers warn.
8 Articles
8 Articles
Trump could be stuck with Powell as 'shadow Fed chair' due to Pirro's failures: report
Donald Trump's attempt to force Federal Reserve Chair Jerome Powell out of office appears destined to backfire spectacularly, with the botched criminal prosecution potentially extending Powell's stay rather than shortening it.According to reporting from Yahoo Finance's Jennifer Schonberger, the fail...
The Times of Northwest Indiana
DOJ's Powell probe could backfire
WASHINGTON — President Donald Trump for months wanted to remove Jerome Powell as chair of the Federal Reserve. Instead, an investigation by one of his own officials could end up extending Powell's time at the top of the central bank…
Trump signals DOJ should pursue Powell probe, complicating Warsh Fed nomination
President Donald Trump on Thursday signaled his continued support for a Department of Justice investigation into Federal Reserve Chair Jerome Powell — a stance that could further delay the confirmation of Powell’s would-be successor, Kevin Warsh. “He’s under investigation because he’s building a building for hundreds of billions of dollars more than it’s supposed to cost,” Trump said of Powell in the Oval Office. He was referring to the ongoing …
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