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🟡 Powell Under Federal Criminal Probe; Trump Says He Won’t Fire Him (Yet)
Federal Reserve Chair Jerome Powell is facing a criminal investigation by the U.S. Department of Justice over his congressional testimony and cost overruns on a $2.5 billion Fed headquarters renovation, a probe critics say is politically motivated. President Donald Trump says he currently has no plans to fire Powell, even as the controversy fuels debate about central bank independence.
Key Facts:
⚖️ Criminal investigation: U.S. prosecutors issued subpoenas to the Federal Reserve relating to Powell’s statements about renovation costs, and Powell has denied any wrongdoing.
🏛️ Trump and Powell clash: The investigation is widely seen as an escalation in Trump’s long‑running push for lower interest rates and tension with the Fed.
📣 No firing planned: Trump told Reuters he has no current plans to fire Powell, though he said it’s “too early” to decide Pryce’s fate.
🧑⚖️ Independence concerns: Lawmakers and experts warn that using criminal probes against the Fed chair could undermine the central bank’s independence, a foundational principle of U.S. monetary policy.
Expert Insight:
The Powell probe — rare, if not unprecedented — highlights deep political tensions between the executive branch and the Federal Reserve over interest rate policy and economic governance. Critics from both parties and former central bankers have stressed the importance of keeping the Fed free from political pressure.
#FederalReserve #FedIndependence #MonetaryPolicy #economy #UScapitol $ETH $BTC $USDC
Federal Reserve Chair Jerome Powell is facing a criminal investigation by the U.S. Department of Justice over his congressional testimony and cost overruns on a $2.5 billion Fed headquarters renovation, a probe critics say is politically motivated. President Donald Trump says he currently has no plans to fire Powell, even as the controversy fuels debate about central bank independence.
Key Facts:
⚖️ Criminal investigation: U.S. prosecutors issued subpoenas to the Federal Reserve relating to Powell’s statements about renovation costs, and Powell has denied any wrongdoing.
🏛️ Trump and Powell clash: The investigation is widely seen as an escalation in Trump’s long‑running push for lower interest rates and tension with the Fed.
📣 No firing planned: Trump told Reuters he has no current plans to fire Powell, though he said it’s “too early” to decide Pryce’s fate.
🧑⚖️ Independence concerns: Lawmakers and experts warn that using criminal probes against the Fed chair could undermine the central bank’s independence, a foundational principle of U.S. monetary policy.
Expert Insight:
The Powell probe — rare, if not unprecedented — highlights deep political tensions between the executive branch and the Federal Reserve over interest rate policy and economic governance. Critics from both parties and former central bankers have stressed the importance of keeping the Fed free from political pressure.
#FederalReserve #FedIndependence #MonetaryPolicy #economy #UScapitol $ETH $BTC $USDC
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