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Fed Chair Jerome Powell speaks out over criminal probe from Trump’s DOJ
Jerome Powell has said that the US Federal Reserve is being threatened with criminal indictment by the Trump administration. In a video announcement, the Fed Chair said that the Department of Justice (DoJ) is serving the agency with grand jury subponeas over comments he made to Congress last June in relation to renovation cost over-runs at the Federal Reserve buildings in Washington DC. He said the action is a “pretext” which is designed at pressuring the central bank to lower interest rates. “Public service sometimes requires standing firm in the face of threats,” he added. Donald Trump has said he does not “know anything” about the investigation.
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huffpost.com
Federal Reserve Chair Powell Says DOJ Has Subpoenaed Central Bank, Threatens Criminal Indictment
The move represents a major escalation in President Donald Trump's battle with the Fed.
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cnbc.com
Fed Chair Powell says he's under criminal investigation, won't bow to Trump intimidation
President Donald Trump has criticized Federal Reserve chief Jerome Powell for not cutting interest rates as much and as quickly as the president wants.
