
Powell Defends Fed Independence Amid DOJ Probe
Federal Reserve Chairman Jerome Powell has accused the Justice Department of launching a politically motivated criminal probe into his Senate testimony, alleging it stems from the Fed's refusal to lower interest rates as requested by the Trump administration. Powell asserts the investigation, involving grand jury subpoenas, is a threat to the Fed's independence and its ability to set monetary policy based on economic conditions rather than political pressure, emphasizing his commitment to the Fed's mandate of price stability and maximum employment. The Justice Department has not yet issued a public statement regarding the matter.


















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