🚨 Powell Says Criminal Prosecution Threats Stem From Fed’s Interest Rate Independence 🚨
Powell, Chair of the U.S. Federal Reserve, stated that the DOJ issued a federal grand jury subpoena to the Fed on Friday, related to his testimony before the Senate Banking Committee last June.
Powell explained that the testimony concerned a long running renovation project at the Fed headquarters. However, he stressed that the real reason behind the criminal prosecution threats is the Fed decision to set interest rates based on economic assessments, rather than aligning with presidential preferences.
He reaffirmed that the Fed must conduct monetary policy based on evidence and economic conditions, free from political pressure or legal intimidation, and reiterated his commitment to maintaining price stability and maximum employment.
This article is for informational purposes only, not investment advice.
