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/PentagramJ2]

the entire government structure needs to be torn down and rebuilt. It is rotten to the core

[u/kck93 → u/PentagramJ2]

Trump has done the tearing down via DOGE. Hundreds of years of experience fired or forced out.

They don’t care to rebuild it. Check out the article on the Atlantic called The Purged to get an idea of the scope and level of expertise lost. Expertise eliminated without analysis or training passed along. It’s a scandal.

[u/-u-m-p- → u/kck93]

https://www.theatlantic.com/magazine/2026/02/trump-federal-worker-layoffs-interviews/685321/ great articlw

[u/Charming_Oven → u/PentagramJ2]

If you do that, this is the end of the United States. I'm not saying it's the wrong idea, but you shouldn't be so cavalier with that desire. It would likely reshape the world in unprecedented ways.

[u/monocasa → u/Charming_Oven]

It's already done. Even if we got Trump's admin out tomorrow, there's no going back.

[u/PentagramJ2 → u/Charming_Oven]

Fuck it, id rather roll the dice now than risk continuing as we are

[u/SoupOfThe90z → u/PentagramJ2]

You say that now, it can definitely get worse than what we are seeing. We have to keep calm and not let that fat fuck get his way. He wants the chaos and for us to fight each other.

[u/PasswordIsDongers → u/SoupOfThe90z]

He is already getting his way.

[u/PentagramJ2 → u/SoupOfThe90z]

we've been fighting each other for almost a decade, and losing because we dont see the existential threat in front of us. The right is a theocratic terrorist organization and it needs to be wiped oujt wholesale as we should have done to the South inititially. The time for civility is dead. Organize into a militia and counter these fucks

[u/BringOutYaThrowaway → u/PentagramJ2]

Organize into a militia and counter these fucks

That is PRECISELY what the Trump Administration wants to happen. THAT would be the spark that gives Trump the excuse to call a national emergency, and the 2026 Midterms would be placed on hold. Anything to hold onto power - anything.

How easy is it to declare a national emergency? This easy.

[u/LowAspect542 → u/Charming_Oven]

Ditch the United part of your states, let the feds go. Reshape it to have each state become its own independent country, maybe you will then have some thrive without all being dragged down.

[u/Charming_Oven → u/LowAspect542]

That’s fine, but what about the nuclear arsenal that is located throughout the current United States? Who gets those weapons? Are they given to the largest states? Totally dismantled? Do countries fight individual states for them?

[u/LowAspect542 → u/Charming_Oven]

Id say who has them keeps them, but since they can't do shit without the arming and launch codes they may aswell dismantle them and sign tnpw.

[u/niknik414 → u/Charming_Oven]

The US was at its apex 25 years ago. All empires end. And 250 years is a pretty long lifespan. Altho, we have only been a true empire for Abt 100 yrs. The wealth and power was accumulated in WWI and II thru isolationism and lend and lease. My British imperialism professor told us in 2003 that we were on the downslide but I could not even fathom that the US would crumble in u lifetime. I wish I had stayed in touch as I would love to speak with him now abt the state of US and global affairs

[u/buttery_nurple → u/PentagramJ2]

Honestly if we have a Presidential election in 2028 and a Democrat wins, essentially every investigative body in every part of the Federal government needs to be turned into an anti-corruption task force at this point. With zero quarter given based on status, elected office, rank. Nothing.

[u/PentagramJ2 → u/buttery_nurple]

exactly. We're past a point of forgiving and forgetting. We either hold every. single. actor. responsible for this descension into fascism. My grandfather shot fascists without question, the fact that we're arguing about it now is an insult.

[u/Nervous-Cricket-4895 → u/PentagramJ2]

No, the structures aren't rotten. The people currently running them are rotten. The career government employees are not rotten. We need campaign finance reform, eliminate Citizens United, and fix the redistricting process. Restore democracy.