"The subpoenas are the latest move in the Trump administration's pressure campaign to get Powell to lower interest rates, resign or be fired. Powell noted Sunday that he has served at the Fed under four administrations and would continue to do the job the Senate confirmed me to do, with integrity and a commitment to serving the American people. Trump started demanding that Powell lower interest rates soon after the inauguration"
"Trump has also gone after Fed governors, attempting to fire Fed Governor Lisa Cook in August, accusing Cook of mortgage fraud. The DOJ opened an investigation into Cook in September over those allegations but Cook sued and a federal judge sided with Cook, saying that the DOJ had not met the standard for sufficient cause. After a federal appeals court agreed with the first judge's ruling, Trump then asked the Supreme Court to uphold Cook's firing. The Supreme Court will hear the case on Jan. 21."
Subpoenas from the Trump administration represent a targeted effort to pressure the Federal Reserve to lower interest rates, force resignations, or remove officials. Fed Chair Jerome Powell has served under four administrations and intends to continue his Senate-confirmed duties with integrity and commitment to the public. President Trump demanded rate cuts, threatened to fire Powell, and pursued alleged cause over the Federal Reserve building renovation. The administration also targeted Fed governors, notably Lisa Cook, prompting a DOJ inquiry and federal court rulings that sided with Cook; the Supreme Court will hear the case on Jan. 21. Several governors resigned or announced retirements amid the campaign, and Trump nominated Stephen Miran to a vacant seat.
Read at www.housingwire.com
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