US EditionBessent Unhappy with Criminal Investigation of Fed Chair Jerome Powell
Federal Reserve Chair Jerome Powell calls DOJ subpoenas on $2.5 billion renovation a coercive tactic to force interest rate cuts demanded by President Trump.
- On Monday, Federal Reserve Chair Jerome Powell disclosed DOJ subpoenas targeting renovation costs at the Fed's Washington headquarters, calling them `pretext` for rate cuts.
- After a year of public pressure from Trump, President Donald Trump previewed the subpoenas on Sunday and has pressed Powell to cut rates, affecting the probe's timing.
- DOJ threats tied to Powell's June testimony indicate possible indictments, while analysts said financial markets showed calm, believing Powell could fend off allegations about the $2.5 billion project.
- Several Republican senators and a bipartisan group of former Fed chairs and economists defended the Fed’s independence Monday, while Sen. Thom Tillis vowed to oppose Trump nominees and Sen. Lisa Murkowski called the probe coercion.
- With the Fed's next meeting in about two weeks, economists say the DOJ investigation likely means the Fed would avoid rate cuts and Powell is more likely to stay after his term ends in May.
102 Articles
102 Articles
Investigation into Fed chair Jerome Powell sparks backlash
The Trump administration’s criminal investigation of Federal Reserve Chair Jerome Powell sparked frustration among White House officials and allies, and threatened ramifications for markets and the government. Treasury Secretary Scott Bessent reportedly told US President Donald Trump that the probe “made a mess,” and multiple Senate Republicans voiced displeasure: “We need this like we need a hole in the head,” one said. A Commerzbank economist …
The press secretary says that the President did not order an investigation by the Department of Justice to the head of the Fed, but defended the right to criticize him.
Trump handed top foe 'single greatest gift' with 'astoundingly foolish' blunder: expert
Federal Reserve Chair Jerome Powell is staring down a potential criminal indictment for what Slate legal analyst Marc Joseph Stern called Monday a "made-up crime," part of Trump's audacious power grab to force the central bank into submission.And it's all but assured to come back to haunt him.The Trump administration hit the Fed with grand-jury subpoenas on Friday, launching a criminal investigation into allegations that Powell lied to Congress …
MAGA enraged as even Fox News sounds the alarm over Trump’s latest retribution
President Donald Trump's Department of Justice (DOJ) investigating Federal Reserve chairman Jerome Powell has prompted criticism from the president's favorite news network — which has in turn sparked criticism from Trump's base.On Sunday night, Powell announced he was under a criminal investigation by the DOJ. He argued that while the investigation is ostensibly for the cost of renovations to the Fed's Washington D.C. campus, he was being target…
What to know about the DOJ investigation into Jerome Powell
The Department of Justice launched a criminal investigation into Federal Reserve Chairman Jerome Powell. Here is what we know and the questions that remain. Powell revealed the investigation on Sunday night, an unprecedented step by the Justice Department, following accusations that Powell had lied during testimony before Congress last year. POWELL DEFENDS HIS RECORD IN VIDEO STATEMENT AFTER DOJ CRIMINAL INQUIRY DROPS It also comes after months …
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