"The idea that this president and this administration is going to do whatever it takes regardless, Faber said about the lesson for the next Fed chair. So, even if they get their person in there, so to speak, their person obviously they're going to be choosing that personthere is this idea that they are not expected then to perhaps show that real independence that they all claim they will have, because of course, there's the shadow of being indicted."
"I think if you go after the Fed chairman for decorating, for building a project that he obviously have nothing to do with he's not a general contractor what happens? You basically just say, You know what? I'm going to take the Fed chair and I want to do exactly what the president says, because that's why I've been appointed. It's not the charter, but I think we deal with an administration where ,when you get in the jo"
Jerome Powell faces a criminal investigation over allegedly misleading Congress about the Federal Reserve's $2.5 billion headquarters renovation. Powell defended Fed independence, arguing monetary policy must be set by evidence and economic conditions rather than political pressure or intimidation. Media commentary praised Powell's response and warned that pursuing the Fed chair over a renovation could signal attempts to control interest-rate decisions. Observers expressed concern that the prospect of indictment could deter independent action by future Fed chairs and make the position unattractive, potentially weakening the Fed's ability to set policy free from political influence.
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