"On Sunday, Powell posted a video on social media revealing he was facing a criminal investigation over the renovation of the Federal Reserve building. In the video, Powell claimed the investigation had nothing to do with the renovation project and was merely a consequence for his unwillingness to lower interest rates to Trump's liking. In recent months, Trump has repeatedly attacked Powell and openly spoken about replacing him. The latest action by the president, Powell said, threatened the independence of the Federal Reserve."
"Sen. Thom Thillis (R-NC) accused the Trump administration of actively pushing to end the independence of the Federal Reserve and claimed he would oppose the confirmation of any nominee for the Fed until the matter was resolved. If there were any remaining doubt whether advisers within the Trump Administration are actively pushing to end the independence of the Federal Reserve, there should now be none. It is now the independence and credibility of the Department of Justice that are in question."
Federal Reserve Chair Jerome Powell posted a video saying he faces a criminal investigation related to the Fed building renovation and that the probe is retaliation for his refusal to lower interest rates to President Trump's liking. President Trump has repeatedly attacked Powell and discussed replacing him. Several prominent Republican senators voiced opposition to the administration's actions, arguing the move threatens the Fed's independence and the credibility of the Department of Justice. Sen. Thom Thillis said he would block Fed nominations until the matter is resolved. Senate Majority Leader John Thune demanded that any allegations be real and serious. Sen. Dave McCormick called Powell guilty of criminal activity and said Powell had been slow to cut rates.
Read at www.mediaite.com
Unable to calculate read time
Collection
[
|
...
]