Justice Department Threatens to Indict Fed Chair Powell Over Testimony
The U.S. Justice Department has threatened to indict Federal Reserve Chair Jerome Powell over his congressional testimony about cost overruns on a renovation project. Powell called the threat a pretext to pressure the Fed into cutting interest rates, challenging the central bank's independence.
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The U.S. Justice Department has issued subpoenas to Federal Reserve Chair Jerome Powell jerome powell, threatening him with a potential indictment over his testimony to Congress concerning cost overruns on a $2.5 billion renovation project at the Federal Reserve's headquarters. Powell has publicly characterized this move as a pretext aimed at pressuring the Federal Reserve to lower interest rates in line with President Donald Trump's donald trumppreferences, thereby directly challenging the institution's independence.
