Trump Administration Launches Criminal Investigation Against Fed Chair Jerome Powell

Criminal Investigation into Jerome Powell

The administration of U.S. President Donald Trump has launched a criminal investigation against the Chair of the Federal Reserve, Jerome Powell, a development that escalates concerns regarding the independence of U.S. monetary policy. Powell announced on Sunday that the central bank received subpoenas from a grand jury related to his testimony about renovations at the Fed's headquarters in Washington, D.C.

"The threat of criminal charges is a consequence of the Federal Reserve's decisions to set interest rates based on the best assessments of what will serve the public, rather than follow the president’s preferences," Powell stated in a rare video message. "It raises the question of whether the Fed will be able to continue setting interest rates based on evidence and economic conditions – or whether, conversely, monetary policy will be dictated by political pressures or intimidation."

Further details will follow...