Statement of Chairman Powell on Fed investigation

[LetMyPeopleVote]

Link to tweet

[spooky3]

1. Thanks for posting, and thanks, Ch. Powell, for standing strong. nt

[agingdem]

4. Trump's witch hunts have gone nowhere..

Jack Smith, Leticia James, Adam Schiff, Hillary Clinton, James Comey, Joe Biden, Andrew McCabe, John Brennan, Alvin Bragg, Mark Milley, Miles Taylor, Christopher Kreb

[spooky3]

5. Yes, but it costs all of those people $ for lawyers, time fighting nonsense, and loads of stress.

TSF has manipulated the legal system for years to the point he may not even care about eventually winning the case, because he has ruined so many lives.

[agingdem]

7. absolutely...Trump thinks in terms of money..

they have/had to waste tens of thousands of dollars defending themselves against nothing because a malicious demented degenerate didn't like their tone...

[dalton99a]

2. The evil dictator must be resisted.

[vapor2]

3. But the MOFO can tear down the East Wing

and build a ballroom for how MUCH????? His pettiness, his revenge make me puke.

[usonian]

6. Statement

https://www.federalreserve.gov/newsevents/speech/powell20260111a.htm

Good evening.

On Friday, the Department of Justice served the Federal Reserve with grand jury subpoenas, threatening a criminal indictment related to my testimony before the Senate Banking Committee last June. That testimony concerned in part a multi-year project to renovate historic Federal Reserve office buildings.

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. But this unprecedented action should be seen in the broader context of the administration's threats and ongoing pressure.

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; the Fed through testimony and other public disclosures made every effort to keep Congress informed about the renovation project. Those are pretexts. The threat of criminal charges is a consequence of the Federal Reserve setting interest rates based on our best assessment of what will serve the public, rather than following the preferences of the President.

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.

I have served at the Federal Reserve under four administrations, Republicans and Democrats alike. In every case, I have carried out my duties without political fear or favor, focused solely on our mandate of price stability and maximum employment. Public service sometimes requires standing firm in the face of threats. I will continue to do the job the Senate confirmed me to do, with integrity and a commitment to serving the American people.

Thank you.

PDF (same) https://www.federalreserve.gov/newsevents/speech/files/powell20260111a.pdf

[LetMyPeopleVote]

8. This Powell statement is incredibly direct

Link to tweet

[UTUSN]

9. Integrity to Dear leader is like water to the Wicked Witch of the West