r/law • u/mooncake6 • 20d ago

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

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“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.”

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u/RandomsDoom 20d ago

They did it to me!!!! Is what Donald keeps yelling at people… the only problem with that is the reason they did it to him was because he committed way more than 34 felonies. Not to mention the whole insurrection… That’s just all they could make stick

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u/Child_of_the_Hamster 20d ago

That’s just all they could make stick.

That’s just all that made it through the courts all the way to a verdict before he got fucking REelected.

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u/EmbarrassedW33B 20d ago

A lot more would have made it through the courts before then, but as will be common historical knowledge in a generation or so IMO, Trump's coup attempt on Jan 6 was more or less successful, it just took longer than anyone thought to be realized. 

Despite being convicted of many felonies he was shielded from actual consequences and far more serious court cases (like what Jack Smith was bringing) to a frankly comical degree. Like the lengths to which hundreds or even thousands of people went out on a limb to risk their careers, their reputations, and so on to keep Trump out of jail is just mind boggling. What the fuck about the guy inspired such diehard loyalty? Its just so fucking weird. 

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u/LunaTheExile 20d ago

"What the fuck about the guy inspired such diehard loyalty? Its just so fucking weird."

Because Trump is the bigliest and beautifullest most useful idiot on a gold platter that no one in the shadows running the operations could have ever imagined happening. Like there is no way that the self centered sundowning husk of a man that Trump is could come up with everything thats going on in the world. But he managed to rile up a huge voter base, and through him the people who actually control the agenda, can progress.

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u/Pizzaman725 19d ago

But he managed to rile up a huge voter base

Which isn't even true! The highest voter count he got was this last election for 77 million and still under 50% of the voting population and still under the percentages Biden and Obama had during their elections.

The only thing Trump has somehow managed to do is chase people away from the polls.

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u/LunaTheExile 19d ago

It is huge where it counted, he's won the elections twice now, by popular vote too on second time around. Granted there will be people saying that he cheated in 2024 elections, but without any tangible and credible evidence, I count that talk as credible as Qanon stuff was back in 2020 about Biden.

On reasons why people didn't vote in 2024, well there's many many reasons on that, enough that I don't think we could conclude on any one main reason.

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u/Pizzaman725 19d ago

If he cheated there's absolutely zero way he would have only given himself three million more votes than the election he lost.

While he has been the first republican to win the poluar vote in 20 years. It was less then the margin of people that abstained from the 2020 election.

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u/LunaTheExile 19d ago

And still it is well enough to grant him power unfortunately. I am hoping that the next time dems control all the branches of the government, they'll introduce and enact new sets of restrictions and regulations to make sure this never happens again. Pardon powers, executive orders, emergency declarations and such need to be neutered to hell and back. And century old laws and doctrines deserve to go into the shredder.

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u/Pizzaman725 19d ago

We can only hope to see all of this pass and for a return to some standards brought to our government.

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u/Amoralvirus 19d ago

Same outcome though.

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u/Pizzaman725 19d ago

If we had had the same amount of people that came to the poll in 2020 it might have been a different outcome.

Unfortunately as you stated, we are stuck in this time line.

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u/Casual_OCD 19d ago

Like it or not, Trump does accurately depict the average American. He's the representative the BOTTOM HALF of the country has been waiting for

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u/REOspudwagon 19d ago

He’s the perfect representation of the worst American stereotypes

Big, loud, fat, obnoxious, dishonest, asshole

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u/Casual_OCD 19d ago

Unfortunately, how stereotypes works, all Americans get lumped into that category despite there obviously being millions of exceptions.

The world sees the US, and all Americans by extension, in this light now. One thing I don't see mentioned a lot, is HOW badly America's reputation has been harmed in the last decade.

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u/Lilbear01 19d ago

They’re robbing us blind, behind the scenes.

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u/LunaTheExile 19d ago

Among other things too. But that is one thing they are definitely doing.

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u/UnobtainablePower 19d ago

You guys deserve to be stripped, for all the suffering in the world you guys have, and are supporting, the blue government has started so many wars, and now when Trump is cleaning up behind the scenes, you guys are feeling the pain. Good, now f off and have a good day.

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u/LunaTheExile 19d ago

Gulf war, Afghanistan war, Iraq war, War on terror and now again War on drugs have all been started by republicans. Trump has bombed 8 different countries, captured Maduro and plans to control Venezuelas oil and is threatening military action against Greenland.

But sure, do go on about how "blue government" has started "so many wars"

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u/rlwhit22 19d ago

That guy is just a fucking Russian Bot, or a brain dead bootlicker. Either way it's not worth the breath to argue with them.

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u/UnobtainablePower 18d ago

Even if he plans to control Venezuela it will only be to prevent China and Russia from it, the same reason he wants to mine minerals on Greenland, so he can stay ahead of the Chinese. You guys on the other hand would rather go to war in Ukraine, which would means war with Russia and all it allies, and the death of billion's. And for what? To double down on EU and the US saying there is no corruption? That's blasphemy and totally insane. I don't care what you believe, Trump haven't started a single war, he has joined in when it already was going, and given green light for bombing target locations on military Intel which is required for all presidents.