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Powell Claims DOJ Subpoenas Retaliation for Fed’s Rate Policy Independence
Powell Claims DOJ Subpoenas Retaliation for Fed’s Rate Policy Independence
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BTCCSquare news:
Federal Reserve Chair Jerome Powell alleges Justice Department subpoenas targeting his June Senate testimony constitute political retaliation. The probe coincides with President Trump's public criticism of Powell's interest rate decisions.
Powell framed the $2.5B Fed headquarters renovation as pretextual, stating prosecutors are weaponizing oversight authority. "Our rate decisions serve the public, not political preferences," the Fed chair emphasized in a Sunday video statement.
Trump denied involvement but doubled down on Powell criticism: "He's not very good at the Fed." The confrontation escalates tensions between monetary policymakers and the executive branch during an election year.
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