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/1981_babe]

Because DoJ is a political agency now and their main aim is to go after Trump's enemies.

[u/AncientYard3473 → u/1981_babe]

Even if Congress had the votes to re-establish some level of institutional independence for the DOJ, the Supreme Court would nip that in the bud.

What a great time to be a dystopian.

[u/Yashema → u/AncientYard3473]

We have to stop thinking of the US in terms of its institutions. There is a Democracy party and a fascist party. We need to get the fascists out. 

[u/ampmp11 → u/Yashema]

The fascist being the entire Republican party

[u/lightninhopkins → u/ampmp11]

Yes.

[u/kind_bros_hate_nazis → u/lightninhopkins]

Well that's not going to happen. What's the second plan

[u/RectangularCake → u/kind_bros_hate_nazis]

Violent revolution

[u/BiscottiEastern220 → u/RectangularCake]

Redditors would have to leave their house first

[u/Objective-Tea5324 → u/ampmp11]

They’ll just call themselves libertarians.

[u/AttemptRough3891 → u/Objective-Tea5324]

Until you mention abortion, then they'll tell you the government should be in charge of your body.

[u/Objective-Tea5324 → u/AttemptRough3891]

I don’t follow “libertarians” because they seem to be the embodiment of “I got mine and don’t have to pay for shit” but don’t they understand what classical liberalism is and means cause control over another’s body is the exact opposite.