"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."
"An extraordinary standoff is playing out tonight, unlike anything that we've seen in modern American history. Jerome Powell, who is the Chairman of the Federal Reserve, publicly disclosed, last night, that he is under investigation by the Department of Justice. A revelation delivered not by prosecutors, but by Powell himself, in a recorded statement that directly ties this threat of criminal charges to the Fed's refusal, as an independent agency, to do what the President wants."
Federal Reserve Chairman Jerome Powell publicly announced that he is under investigation by the Department of Justice and linked the threat of criminal charges to political retribution over the Fed's interest-rate decisions. Powell said the threat is not about his testimony, the renovation of Fed buildings, or congressional oversight, calling those pretexts. He warned that the threat represents an attempt to replace evidence-based monetary policy with political pressure or intimidation. CNN anchor Kaitlan Collins described the situation as an extraordinary, unprecedented standoff, noting Powell revealed the probe himself via a recorded statement released before a New York Times report.
Read at www.mediaite.com
Unable to calculate read time
Collection
[
|
...
]