"Allies of Trump spent months last year accusing the Fed of mishandling the multibillion-dollar renovations of its historic headquarters in Washington. Trump had repeatedly threatened legal action. The justice department is now investigating the project, and whether Powell who accused the administration of targeting him because the Fed has defied Trump's repeated demands for drastic interest rate cuts lied to Congress about its scope during testimony last summer."
"Hassett, chair of Trump's national economic council and one of the US president's top candidates to replace Powell as Fed chair, when his term expires in May suggested on Friday morning that he believed Powell had told the truth about the renovation. In an interview with the Fox Business Network, Hassett said that he wished the Fed had been more transparent when it comes to Powell's congressional testimony about the ongoing renovations to the central bank that are at the heart of the investigation."
Grand jury subpoenas were served on the Federal Reserve as the Department of Justice investigates the multibillion-dollar renovation of the Fed's Washington headquarters. The probe examines whether Jerome Powell misled Congress about the project's scope and follows months of accusations from Trump allies that the Fed mishandled the renovations. Jeanine Pirro said her office decides cases on the merits. Trump said he did not know about the investigation before reporting. Kevin Hassett, chair of the National Economic Council and a potential Powell replacement, said Powell likely told the truth, urged more Fed transparency, and said he would have answered questions immediately.
Read at www.theguardian.com
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