"I am rarely rendered speechless, but it is hard for me to find the words to express my respect for and gratitude to the Federal Reserve chair, Jerome Powell, for doing something so few Republicans have been ready to do: Stand up to the lying and bullying of President Donald Trump and the cowardly sycophants in this case Attorney General Pam Bondi he has surrounded himself with."
"Instead of bending to Trump, hiding or turning the other cheek, Powell called out the Justice Department for its investigation into him over alleged spending overruns on renovations of the Fed's headquarters, telling Americans what it really is: an attempt by Trump and those around him to use the threat of criminal prosecution to pressure the Federal Reserve into lowering interest rates."
Jerome Powell publicly called out the Justice Department's investigation into his spending on Fed headquarters renovations as an effort to pressure the Federal Reserve to lower interest rates. The investigation is portrayed as an unprecedented attempt to use criminal prosecution to strip a sitting Fed chair of independence to achieve the president's desired policy before midterm elections. Only a few Republican lawmakers have defended Powell, including Sen. Thom Tillis, who vowed to block any nominee to replace him until the probe is resolved. Senators Kevin Cramer and Lisa Murkowski expressed doubt that Powell committed a crime and called the inquiry coercive.
Read at www.mercurynews.com
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