Breaking 🚨 Former Fed chairs slam Justice Department probe into Jay Powell.
Former central bank leaders and economists attack the Justice Department probe
All living former leaders of the U.S. Federal Reserve lined up on Monday to attack the Justice Department’s criminal probe into Jay Powell, calling it petty and embarrassing and warning that it makes the United States look like an emerging market with weak institutions.
Thirteen of the most influential economists in the country signed a public letter accusing the Trump administration of crossing a line that should never be crossed.
Powell pushed back a day earlier. He said the investigation is being used as cover to punish him for interest rate decisions that did not match Donald Trump’s demands.
Trump, now the 47th president after winning the 2024 election, has spent months pressing the central bank to cut borrowing costs far faster. Powell said the threat of criminal charges comes from setting rates based on what officials believe serves the public, not the president’s wishes.#BinanceSquare #WriteToEarnUpgrade #Altcoins #BTC #Blockchain