Jerome Powell has decided he is under assault from the Trump administration and has issued a declaration of war.
The Fed chairman on Sunday night took the unprecedented action of releasing a video accusing the Trump administration of using the Justice Department to put pressure on the central bank. He said that the Fed on Friday had received subpoenas for a grand jury and been threatened with criminal charges related to the renovations of the Fed’s headquarters in Washington, DC, and his related testimony to a Senate panel last year. But these inquiries were merely “pretexts,” Powell claimed. The real goal was the subversion of Fed independence.
Jerome Powell has decided he is under assault from the Trump administration and has issued a declaration of war.
The Fed chairman on Sunday night took the unprecedented action of releasing a video accusing the Trump administration of using the Justice Department to put pressure on the central bank. He said that the Fed on Friday had received subpoenas for a grand jury and been threatened with criminal charges related to the renovations of the Fed’s headquarters in Washington, DC, and his related testimony to a Senate panel last year. But these inquiries were merely “pretexts,” Powell claimed. The real goal was the subversion of Fed independence.
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