Fed chair Powell's investigation pushback is working

"Our colleague Marc Caputo reported Monday that Treasury Secretary Scott Bessent described the effort as a mess and wasn't briefed beforehand, and that a source said U.S. attorney for the District of Columbia Jeanine Pirro "went rogue." Of note: Pirro herself even seemed to throw some cold water on the story, saying on X, "The word 'indictment' has come out of Mr. Powell's mouth, no one else's. None of this would have happened if [the Fed] had just responded to our outreach.""

"There are plenty of complaints to be made about the Fed's policy decisions and the secretive way it makes them. But at the end of the day, there's a deep cross-partisan consensus that you want skilled technocrats in charge of the nation's money supply rather than overt politicization. More than his predecessors, Powell has aggressively cultivated relationships in Congress, which has paid dividends in the shows of support that emanated from Capitol Hill since Sunday night - including from persistent Powell critics."

Republican lawmakers and Trump allies rallied around Federal Reserve Chair Jerome Powell, asserting he is not a crook. Some argued legal action would be counterproductive with Powell's term ending in four months and noted he cannot be forced to vacate his governor seat until 2028. Treasury Secretary Scott Bessent described the effort as a mess and said he was not briefed, and a source characterized U.S. Attorney Jeanine Pirro as having "gone rogue." Pirro said the word "indictment" came from Powell and blamed the Fed's lack of response. Broad cross-partisan support favors skilled technocrats over politicization of the Fed.

Read at Axios