The Justice Department's legal action against Powell for maintaining Fed independence could backfire on Trump
analysis
The Justice Department's legal action against Powell for maintaining Fed independence could backfire on Trump
Published
January 12, 2026 12:33PM (EST)
Federal Reserve Chair Jerome Powell talks to President Donald Trump as they tour the Federal Reserve’s renovation project on July 24, 2025. (Chip Somodevilla/Getty Images)
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Justice Department probes Fed Chair Jerome Powell as tensions with President Trump over interest rates continue.
Jerome Powell has said that the US Federal Reserve is being threatened with criminal indictment by the Trump administration. In a…
Powell publicly denounced the inquiry as punishment for not bowing to the president’s wishes on interest rates
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While Trump's name-calling of Powell isn't particularly new, the words now could signal action.
