US EditionFormer Fed chairs condemn criminal investigation into Jerome Powell
Former Federal Reserve chairs and top economic officials say the DOJ probe threatens central bank independence, warning it risks harming inflation control and economic stability.
- 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.
111 Articles
111 Articles
Former Federal Reserve Chiefs Warn About Powell Probe
Every living former chair of the Federal Reserve has broken with tradition to warn that a Justice Department criminal probe of current Fed chief Jerome Powell could blow a hole in the central bank's independence. In a joint statement, former Fed leaders Ben Bernanke, Alan Greenspan, and Janet Yellen joined...
The president of the Fed in a video after being sued by Columbia's attorney
Janet Yellen, Alan Greenspan, Ben Bernanke and other officials who served under both Democratic and Republican presidents issued a joint statement stressing that "the rule of law" is "the basis of our economic success".
Dem Rep. Goldman: DOJ Prosecuting Powell 'Will Tank Our Economy'
Monday on MS NOW's "Deadline," Rep. Dan Goldman (D-NY) said the Trump administration's Department of Justice criminal investigation into Federal Reserve Chair Jerome Powell "will tank our economy." The post Dem Rep. Goldman: DOJ Prosecuting Powell ‘Will Tank Our Economy’ appeared first on Breitbart.
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