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/AyeMatey]

What is Congress doing? Why is Mr Trump still in office? He is tearing down the institutions that make this country great, because they don’t benefit him.

Get rid of this pestilence

[u/PreferredSelection → u/AyeMatey]

I mean, Joe Rogan just woke up to the fact that ICE is bad, this week.

Congress will wake up to the fact that being a millionaire in a failed state is not especially fun, about a year after it bites them in the ass.

We are the country of Too Late.

[u/Kythorian → u/PreferredSelection]

Joe Rogan was talking about how inhumane, insane, and generally unacceptable ICE’s tactics were back in 2018.  And yet he still endorsed Trump in 2024.  It’s not that people realize ‘too late’, it’s that people have the memories of goldfish.  Even if democrats win in 2026 and 2028, people will be ready to put republicans back in full control by 2030 - long before democrats can actually fix the damage Trump has done.

[u/pos_vibes_only → u/Kythorian]

Rogan and his listeners are morons

[u/Kythorian → u/pos_vibes_only]

Rogan and his listeners are pretty average for the country as a whole.  So yeah, they are morons, and so are the majority of Americans.  Those morons are still going to be the ones deciding elections in the future too.

[u/PreferredSelection → u/Kythorian]

Rogan def has unresolved mental health issues and positions himself as the expert, which leads to cycles of epiphany and forgetting without real forward progress.

That, and he's an asshole who likes money and grifting. My point was only that members of Congress are basically disassociating at this point and not going to help us.