"News that Donald Trump's justice department has launched an investigation of Jerome Powell, chair of the Federal Reserve, is the latest example of the president's governing philosophy: do what I want, or I will crush you. The desire to make Powell's life miserable is also a warning sign to anyone who thinks that they have an independent source of authority."
"Powell's crime? He didn't follow orders. As the Washington Post reports, President Donald Trump, who originally nominated Powell to serve as Fed chair during his first term in 2017, has spent much of his second term attacking and threatening to fire the Fed chief for not slashing interest rates to juice the economy. The investigation into Powell's alleged lies to Congress in testimony about the renovation of the Federal Reserve building has a familiar ring to it."
The Justice Department has opened an investigation into Federal Reserve Chair Jerome Powell over alleged lies to Congress about a Fed building renovation. The investigation follows sustained presidential attacks and threats to remove Powell for declining to cut interest rates to boost the economy. The move signals a governing approach that punishes officials who resist political directives and warns independent authorities that defiance may trigger retaliation. The use of lying-to-Congress allegations recalls the Comey indictment and underscores a broader test of institutional independence across the Fed, the judiciary, and other government bodies.
Read at www.theguardian.com
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