DOJ Opens Criminal Probe Into Fed Chair Jerome Powell
The U.S. The Justice Department has reportedly launched a criminal investigation into Federal Reserve Chair Jerome Powell, escalating tensions between the Fed and President Donald Trump.
đșđžTensions rose after Fed Chair Powell said the White House threatened him with a criminal indictment over a Fed HQ renovation to pressure rate cuts
markets weakened and analysts warned this revives threats to Fed independence.
What happened?
Powell says DOJ subpoenas stem from testimony he gave to the Senate about renovations to Federal Reserve buildings.
He called the probe âunprecedentedâ and suggested it followed his refusal to cut interest rates despite heavy political pressure.
đWhy it matters:
This raises serious questions about Federal Reserve independence and whether monetary policy could be shaped by political intimidation instead of data.
đșđžTrump says he knows nothing about the probe, but criticizes Powellâs performance at the Fed.
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Markets are watching closely. This isnât just about Powell â itâs about whether U.S. monetary policy stays insulated from politics