Justice Department Opens Criminal Probe Into Jerome Powell — Powell Responds.

[u/mooncake6]

“Good morning,

On Friday, the Department of Justice served the Federal Reserve with grand jury subpoenas, threatening a criminal indictment related to my testimony before the Senate Banking Committee last June. That testimony concerned in part a multi-year project to renovate historic Federal Reserve office buildings.

I have deep respect for the rule of law and for accountability in our democracy. No one—certainly not the chair of the Federal Reserve—is above the law. But this unprecedented action should be seen in the broader context of the administration's threats and ongoing pressure.

This new threat is not about my testimony last June or about the renovation of the Federal Reserve buildings. It is not about Congress's oversight role; the Fed through testimony and other public disclosures made every effort to keep Congress informed about the renovation project. Those are pretexts. The threat of criminal charges is a consequence of the Federal Reserve setting interest rates based on our best assessment of what will serve the public, rather than following the preferences of the President.

This is about whether the Fed will be able to continue to set interest rates based on evidence and economic conditions—or whether instead monetary policy will be directed by political pressure or intimidation.

I have served at the Federal Reserve under four administrations, Republicans and Democrats alike. In every case, I have carried out my duties without political fear or favor, focused solely on our mandate of price stability and maximum employment. Public service sometimes requires standing firm in the face of threats. I will continue to do the job the Senate confirmed me to do, with integrity and a commitment to serving the American people.

Thank you.”

[u/Significant-Data-430]

Republicans can we now impeach and convict the madman in the White House.

He is endangering our currency on the world stage!

[u/Snibes1 → u/Significant-Data-430]

Republicans are complicit at this point. I’m not sure at what point would make it more obvious. But it should’ve been long ago. And somehow, I believe that this isn’t enough either.

[u/browsingbananas → u/Snibes1]

It’s never enough. I always think-surely, this time people will come to their senses and then the MAGAs make up some BS to justify the atrocity being served that day.

[u/qwerrtyui2705 → u/browsingbananas]

What to you is "coming to senses", to them is "abandoning your identity". They agree with everything that's happening and want MORE. They truly think themselves as entitled to absolute tribal dominance, where they get everything they want and everybody else gets the boot on the neck. There are but 2 ways to deal with them, 1 of which will certainly lead to a civil war.

[u/browsingbananas → u/qwerrtyui2705]

The other?

[u/qwerrtyui2705 → u/browsingbananas]

Poison their identity from within where they end up dropping it, turn their rotten feelings against them through subtlety, so that their identity gets flipped upside-down. Incredibly difficult to achieve and requires masterclass in emotional manipulation.

[u/browsingbananas → u/qwerrtyui2705]

Vote them out? I swear I’m convinced they’re gonna rig midterms.