US EditionYellen says Powell probe ‘extremely chilling’ for Fed independence, market should be concerned
Janet Yellen said the investigation risks political interference and market instability, urging concern over Federal Reserve independence amid legal scrutiny of Powell.
- On Monday, Treasury Secretary Janet Yellen condemned an investigation into Federal Reserve Chair Jerome Powell, saying it threatens central bank independence and risks market confidence at the New York Federal Reserve.
- The inquiry centers on Powell's June testimony about a renovation, with the U.S. Attorney's Office in Washington, D.C., led by Jeanine Pirro, reportedly examining whether Federal Reserve Chair Jerome Powell lied, while Yellen suggested critics may have political motives.
- Speaking to CNBC, Treasury Secretary Janet Yellen, former Fed chair, said she was surprised markets weren’t more worried and urged greater investor concern about the situation.
- Yellen defended Powell, saying she bristled at the notion he lied and believes political opponents seeking Powell's seat may be behind the allegations.
- Against the backdrop of a $38.4 trillion debt, Treasury Secretary Janet Yellen warned that using Fed policy rates to manage federal finances is irresponsible, noting, `You have a president that says the fed should be cutting rates to lower rate payments on the federal debt.
9 Articles
9 Articles
In addition to Janet Yellen, different voices have criticized the investigation against Jerome Powell, accusing political dyes
Trump's intimidation of Fed threatens stability, Yellen says
As Federal Reserve Chair Jerome Powell pushes back against a criminal probe from the Trump Justice Department, Amna Nawaz discusses the developments with Janet Yellen. She served as chair of the Federal Reserve Board from 2014 to 2018 and was Treasury Secretary during the Biden administration.
Janet Yellen rips Trump for targeting Fed chair: 'Road to a banana republic'
President Donald Trump and his allies ramped up their pressure campaign against U.S. Federal Chairman Jerome Powell when the U.S. Department of Justice (DOJ), headed by Attorney General Pam Bondi, launched a criminal investigation of him. The news broke on Sunday, January 11, and Wall Street had a major reaction when it opened on Monday morning.According to Newsweek, "The S&P 500 fell by 0.3 percent, the Dow Jones Industrial Average dropped more…
The criminal case against Fed Chairman Jerome Powell has sparked heated political debate: the Treasury Secretary is concerned, even some Republican politicians see the Trump administration's move as a threat, and several representatives have openly expressed their dissatisfaction, while the independence and stability of the markets may also be at risk.
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