US EditionFormer Fed chairs condemn criminal investigation into Jerome Powell
Former Federal Reserve chairs and senior economists called the DOJ probe into Powell's testimony a politically motivated effort threatening Fed's independence, citing a $2.5 billion renovation dispute.
- On Monday, the past three heads of the U.S. Federal Reserve joined 10 other former economic policymakers in condemning the U.S. Department of Justice's criminal probe of Jerome Powell.
- On Sunday, Jerome Powell issued an extraordinary video statement disclosing that the U.S. Department of Justice opened a criminal inquiry and served subpoenas over his Senate committee testimony about Federal Reserve headquarters renovations.
- A statement signed by Janet Yellen, Ben Bernanke and Alan Greenspan called the inquiry an `unprecedented attempt` to undermine independence, while Jerome Powell called the probe `unprecedented` in an unscheduled video.
- Powell said he believed the probe stemmed from President Donald Trump's anger over Fed interest-rate decisions and added it `should be seen in the broader context of the administration's threats and ongoing pressure` by the U.S. Department of Justice.
- Last year, President Donald Trump attacked Jerome Powell, U.S. Federal Reserve Chair, and floated firing him, which analysts warned would rock financial markets and spark legal battles, while Trump said he did not `know anything` about the investigation.
228 Articles
228 Articles
The DOJ Investigation into the Fed is Much More than a Push to Get Powell Out, Who Benefits?
by Bryan Lutz, Dollar Collapse: If you follow the whole story about the DOJ investigation don’t dismiss who benefits. Here’s the whole story: Renovation at the Federal Reserve’s Eccles Building have ballooned to $2.5 Billion. The project is $30 million over budget, years behind schedule, and losing relevance. Among recent investigations into fraud across the […]
The White House does not lower the tone of the clash with the central bank despite even internal criticism for the investigation of the DoJ. The president exults for the ...
'This is Legal Harassment': Republicans Revolt Over Trump DOJ’s Jaw-Dropping Move Against Fed Chair Powell
The Department of Justice has launched a jaw-dropping inquiry into Federal Reserve Chair Jerome Powell — and it’s already blowing back hard, even from Republicans. In what critics see as political theater masquerading as law enforcement, at least three GOP senators have publicly rebuked the DOJ’s move, warning that targeting Powell risks undermining economic stability and shredding the Federal Reserve’s independence. For lawmakers who usually cl…
Three former Presidents of the Federal Reserve (Fed) and four former Secretarys of the Treasury of Democratic and Republican administrations criticized a Department of Justice investigation into the current Fed president, Jerome Powell, warning that it would undermine the independence of the U.S. central bank. “This is how monetary policy is formulated in emerging markets with weak institutions, with highly negative consequences for inflation an…
The Press of Atlantic City
DOJ investigation of Powell sparks 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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