Federal Reserve Chair Powell says DOJ has subpoenaed central bank, threatens criminal indictment

Federal Reserve Chair Jerome Powell said Sunday the Department of Justice has served the central bank with subpoenas and threatened it with a criminal indictment over his testimony about the Fed’s building renovations.

The move represents a major escalation in President Donald Trump’s battle with the Fed, an independent agency he has repeatedly attacked for not cutting its key interest rate as quickly as Trump prefers.

In a video statement, Powell said the threat of criminal charges are “pretexts” to undermine the Fed’s independence when it comes to setting interest rates.

https://archive.ph/Z0QFp#selection-349.13-371.156

Sure. A witch hunt.

https://www.declassified.live/p/the-no-kings-crowd-defends-fed-monarch

"But Powell’s sworn statements contradict renovation plans, which were approved in 2021. Contrary to what the fed chairman told Congress, the project indeed involves rooftop terrace gardens, new water features, extensive amounts of new building material including marble, and what appears to be a very opulent VIP dining lounge. (Project documents are here and here.)

And aside from Powell’s denial of specific elements, a bigger question is at play: why does the country’s central bank need to build a Taj Fed when many Americans are suffering under the policies imposed by that very institution? Further, whose nest is being feathered with all this unaccountable cash?"

No one is above the Law.