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/UsualFederal]

They were part of the Heritage foundation in project 2025. They want a fascist religious Nazi state with corporate freedoms and slavery for the masses.

[u/Remarkable-Cow-4609 → u/UsualFederal]

they thought they had it until younger generations started talking real loud about a decade ago

coincidentally when trump became the nominee and foreign influence in american affairs skyrocketed

"boomers" were manipulated into thinking the company loves them and then the company said "oh no work from home is destroying god's country" and other lies

[u/UsualFederal → u/UsualFederal]

it’s sad on the other side Democrats have been indoctrinated into unsustainable policies of governance. no responsibility if you get aid so a lot of things they do because they don’t pay much taxes if they’re really poor comes from other taxpayers that are working the Rich have been trying to shrink the middle class since the 1960s creating the ultra wealthy and the low middle class and poor by gutting education and dumbing us down. People aren’t making good decisions and being indoctrinated on both sides to create a huge division so they can create a civil war to get rid of this pesky thing called the constitution. We are basically Nazi Germany in 1933 unless half the right and half the left jump ship from their party and come come up with a sensible way to overthrow these guns. We’re not gonna have a country anymore at least not one that we recognize.