US EditionTrump slams Powell amid federal probe: ‘Either corrupt or incompetent’
The Justice Department's criminal probe into Powell over renovation cost overruns has prompted GOP senators' opposition and raised concerns about Federal Reserve independence.
- Trump called Federal Reserve Chair Jerome Powell "corrupt or incompetent" and a "lousy Fed chairman" for failing to lower interest rates more aggressively.
- Trump claimed he could have renovated the Federal Reserve's buildings in Washington for $25 million, instead of the $2.5 billion being spent.
- Some Republican senators defended Powell against Trump's attacks, arguing the Fed must remain independent from political pressure.
25 Articles
25 Articles
Powell has a way to stop Trump from intruding on the Fed until 2028: report
When U.S. Federal Reserve Chairman Jerome Powell revealed that he is the target of a criminal investigation by the U.S. Department of Justice (DOJ), a long list of Democrats rushed to his defense — especially Sen. Elizabeth Warren (D-Mass.) — and criticized President Donald Trump's politicization of the Fed. But some conservative Republicans are speaking out as well, including Sens. Lisa Murkowski (R-Alaska) and Thom Tillis (R-N.C.). Powell's te…
Congress Erupts Over Fed Chair Investigation
Congress erupted after the Department of Justice announced a criminal investigation into Federal Reserve Chairman Jerome Powell over the $2.5 billion renovation of the Federal Reserve. Part of the investigation involves previous statements made to the Senate Banking Committee in June, in which Powell was accused of misrepresenting facts regarding government spending on the Federal Reserve renovation. Powell, however, has claimed the investigati…
What Happens When You Prosecute a Central Bank Chief? A Historian Weighs In
The unprecedented decision by the Department of Justice (DOJ) to open a criminal investigation into Federal Reserve Chair Jerome Powell has sent shockwaves across global markets and Washington, D.C. It follows months of pressure from President Donald Trump on Powell to cut interest rates. He has publicly attacked Powell, called him “incompetent,” and floated the idea of firing him. [time-brightcove not-tgx=”true”] Trump claimed he did not “know …
The president of the United States, Donald Trump, said Wednesday that the president of the Federal Reserve (Fed), Jerome Powell, is a "corrupt or incompetent." The tycoon's statements come after Powell has assured that he is the subject of a "investigation" by the Department of Justice, a process that the head of the central bank has linked to the political pressures of the executive to "force a drop in interest rates." In an interview given to …
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