US Federal Reserve threatened with criminal indictment

[Morphine Prince 109,926]

 

Statement from Federal Reserve Chair Jerome H. Powell

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.

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

 

[Ladle Ghoulash 55,282]

The fact that Tillis is showing even the suggestion of a spine here is somewhat surprising to me, but at the end of the day, for as cowardly and sycophantic as most Senate Republicans are, they recognize that they can’t let Trump sandbag the economy because the moneyed elites are the ones who butter their bread (and they don’t wanna **** up their own stock portfolios + 401ks).

[Bronco 27,592]

15 minutes ago, Ladle Ghoulash said:

The fact that Tillis is showing even the suggestion of a spine here is somewhat surprising to me, but at the end of the day, for as cowardly and sycophantic as most Senate Republicans are, they recognize that they can’t let Trump sandbag the economy because the moneyed elites are the ones who butter their bread (and they don’t wanna **** up their own stock portfolios + 401ks).

Tillis is retiring at the midterms. Trump has zero power over him as a result.

We'll see increasingly more opposition from Congressional republicans as this year progresses and primaries end. By the summer, Trump has zero power over the Republicans in Congress and the signs are clear they're preparing to abandon him and reinforce the lame duck presidency norms.

[PartySick 174,223]

6 hours ago, Bronco said:

Tillis is retiring at the midterms. Trump has zero power over him as a result.

We'll see increasingly more opposition from Congressional republicans as this year progresses and primaries end. By the summer, Trump has zero power over the Republicans in Congress and the signs are clear they're preparing to abandon him and reinforce the lame duck presidency norms.

I'm still hopeful (but obviously not expecting) that when Dems take the house and impeach Trump again the Senate will vote to convict and remove him regardless of which party is in power.

Everyone's scared of Vance for some reason but Trump is the serpent's head. When he's gone, MAGA's gone. Fragmented into factions so stupid and useless without that freak to unite them.

[Bronco 27,592]

43 minutes ago, PartySick said:

I'm still hopeful (but obviously not expecting) that when Dems take the house and impeach Trump again the Senate will vote to convict and remove him regardless of which party is in power.

Everyone's scared of Vance for some reason but Trump is the serpent's head. When he's gone, MAGA's gone. Fragmented into factions so stupid and useless without that freak to unite them.

Honestly, I want them to go after the actual string pullers. 
Go after Miller, Noem, Vance etc. 
Trump ain't doing **** by himself, he just signs the paper for the brains. 

There's no point cutting the head off when the brain is elsewhere

[PartySick 174,223]

19 minutes ago, Bronco said:

Honestly, I want them to go after the actual string pullers. 
Go after Miller, Noem, Vance etc. 
Trump ain't doing **** by himself, he just signs the paper for the brains. 

There's no point cutting the head off when the brain is elsewhere

Miller and Noem need to go. I don't fear Vance but maybe I've just relegated him to the unlikable couch f*cker that promises the world to every faction on the right regardless of how much they disagree.

[Bronco 27,592]

6 minutes ago, PartySick said:

Miller and Noem need to go. I don't fear Vance but maybe I've just relegated him to the unlikable couch f*cker that promises the world to every faction on the right regardless of how much they disagree.

It's not so much about fearing Vance. 
But if the Dems were successful in impeaching Trump (they wouldn't be), there'd still be enough time at the wheel for the brains to get work done. And I think a Trump impeachment would bolster a Vance campaign tbh. 

I think the Dems have a far better chance of impeaching the secretaries, going after WH staff etc - and I think enough senate Republicans would line up behind them because they are very clearly itching to take power back from the Trump sphere. 

And tbh, Trump's a senile loon. Without the corruption around him, he'd be capable of nothing.