""I have deep respect for the rule of law and for accountability in our democracy. No one certainly not the Chair of the Federal Reserve is above the law. This new threat is not about my testimony last June or about the renovation of the Federal Reserve buildings. It is not about Congress's oversight role. Those are pretexts. This is about whether the Fed will be able to continue to set interest rates based on evidence and economic conditions or whether instead monetary policy will be directed by political pressure or intimidation,""
""No. I wouldn't even think of doing it that way.""
The Department of Justice subpoenaed the Federal Reserve, and Chairman Jerome Powell revealed an administration threat of criminal indictment related to his congressional testimony about a Fed building renovation. Powell characterized the action as a pretext aimed at pressuring the Fed to lower interest rates and warned that monetary policy should be set by evidence and economic conditions rather than political intimidation. Powell affirmed respect for the rule of law while noting no one is above it. President Trump denied knowledge of the investigation and rejected using it to influence Fed decisions amid calls for rate cuts.
Read at www.dw.com
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