"Well, Maria, Jerome Too Late, Powell' he's the one that's made this political, Marshall replied, using Trump's nickname for Powell. He continued: You go back to the last presidential election, right before the election, he drops the interest rates. Do we even need a new federal building? It was budgeted under $2 billion. It's $2.5 billion. I think this president's sending a message to everybody that we're going to be looking out for fraud, waste, and abuse."
"Bartiromo replied, Yeah, I know, and I understand that. And, you know, I agree that Jay Powell politicized the Federal Reserve. I mean, you look at how he jammed through these DEI policies down everybody's throats and, as you said, raised interest rates. And by the way, cut interest rates rathernot just by a quarter point, but 50 basis points. He actually cut interest rates right before the presidential election."
The Justice Department opened a criminal investigation into Federal Reserve Chair Jerome Powell, prompting strong reactions from Republican leaders. Senator Roger Marshall criticized Powell, accusing him of politicizing the Fed and citing rate cuts before the last presidential election. Marshall suggested scrutiny of federal spending, mentioning an over-budget federal building, and framed the investigation as a message against fraud, waste, and abuse. Concern surfaced about high interest rates and a housing crisis limiting homeownership. Maria Bartiromo agreed, asserting Powell pushed DEI policies at the Fed and manipulated interest rate decisions, including a sizable pre-election rate cut.
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