Senator Murkowski has stated that if the Department of Justice investigates Chair Powell based on cost overruns, Congress should investigate the Department of Justice to protect the Federal Reserve’s independence. Senator Tillis is blocking all Federal Reserve nominees until the Justice Department ends its investigation into Powell and other Fed officials. Tillis believes the Department of Justice’s credibility is now in question and will oppose any Fed nominees, including for the upcoming Chair vacancy, until the matter is resolved. The Senate Banking Committee’s current Republican majority gives Tillis significant power to stall nominations.
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The Trump administration initiated a criminal investigation into Federal Reserve Chair Jerome Powell, alleging he lied to Congress about headquarters renovations, a move perceived as an attempt to force interest rate cuts. This investigation is considered a tactical blunder, as it demonstrates Trump’s true motive of undermining the Fed’s independence for political gain. The probe also reveals why the judiciary must protect Powell, as Trump’s actions showcase his disregard for the rule of law. Ultimately, the Supreme Court, already wary of the administration’s actions, should use this as reason to impose strict limits on the president’s ability to fire the Fed’s members.
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Gold and silver prices surged to record highs on Monday, driven by escalating geopolitical and economic uncertainties and expectations of U.S. interest rate cuts. Gold reached above $4,600 per ounce, while silver hit a fresh peak as investors sought safe-haven assets amidst the Trump administration’s scrutiny of Federal Reserve Chair Jerome Powell. This rally was also fueled by the anticipation of further rate cuts later in the year, as well as rising geopolitical tensions, including Trump’s response to events in Iran and other international developments. These factors led to strong gains in platinum and palladium as well.
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Stocks drop after DOJ opens criminal probe into Fed chair Jerome Powell, and the initial reaction seems a bit…understated, to put it mildly. We’re talking about a criminal investigation into the very person who steers the Federal Reserve, the entity that’s supposed to be the bedrock of our economic stability, and yet the market’s response is less a plummet and more a gentle dip. Many comments I’m seeing point out that, at least initially, the market showed remarkable resilience, even recovering some losses. This raises questions, doesn’t it?
The prevailing sentiment seems to be that a significant market drop wasn’t the immediate outcome.… Continue reading
Federal Reserve Chair Jerome Powell announced that the US Department of Justice is threatening him with criminal charges, which he condemned as intimidation for not adhering to President Trump’s interest rate policy demands. Powell stated that grand jury subpoenas were served related to his congressional testimony on Fed office building renovations, but asserted that the accusations are a pretext for political pressure. The charges, Powell claims, are a consequence of the Federal Reserve setting interest rates based on economic assessments rather than presidential preferences. Democratic members of Congress have come to Powell’s defense, accusing Trump of undermining the rule of law.
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Following the Justice Department’s investigation into Federal Reserve Chair Jerome Powell, several Republican lawmakers have voiced their opposition. Senator Thom Tillis has vowed to block all future Federal Reserve nominations until the legal matter is resolved, citing concerns over the administration’s attempts to undermine the Fed’s independence. Other senators, including Lisa Murkowski and John Kennedy, have also expressed support for an independent Fed. The investigation is reportedly linked to Powell’s testimony regarding the headquarters renovation costs and the administration’s frustration with the Fed’s interest rate policy, which President Trump has publicly criticized.
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The Justice Department has subpoenaed the Federal Reserve, prompting President Trump to deny any knowledge of the investigation while also criticizing Federal Reserve Chair Jerome Powell. Powell responded by stating the Justice Department is threatening possible criminal indictment related to his Senate testimony about renovations, viewing it as part of the administration’s pressure campaign to lower interest rates. This move follows Trump’s prior expressions of considering legal action against Powell. The investigation has drawn criticism from senators, with some vowing to oppose future Trump nominees for the Fed until the matter is resolved.
Read More
Following the announcement of a criminal probe into Federal Reserve Chair Jerome Powell, Republican Senator Lisa Murkowski called for a congressional investigation into the Department of Justice, viewing the probe as an attempt to pressure the central bank into lowering interest rates. The controversy stems from a DOJ investigation focusing on Powell’s June congressional testimony regarding the Fed’s building renovation costs. Several lawmakers have pledged to block President Trump’s Federal Reserve nominees until the matter is resolved, citing concerns that political interference could undermine the Fed’s independence. This action is viewed as a significant escalation in Trump’s ongoing campaign against Powell and the Fed’s monetary policy.
Read More
The news that US federal prosecutors have opened an inquiry into US Fed Chair Jerome Powell, as reported by the New York Times, is frankly alarming. It’s the kind of development that makes you question the very foundations of economic governance, especially given the current political climate. The focus seems to be on Powell’s testimony before the Senate Banking Committee regarding the renovation of Federal Reserve buildings. But, as Powell himself has pointed out in his video response, available online, this might be a pretext for something much deeper.
This situation feels like a deliberate attempt to undermine the Federal Reserve’s independence.… Continue reading
Good evening. Regarding the recent actions taken by the Department of Justice, grand jury subpoenas have been served to the Federal Reserve, threatening a criminal indictment stemming from testimony before the Senate Banking Committee. This unprecedented action is viewed as a consequence of the Federal Reserve’s independent setting of interest rates, rather than adhering to political preferences. The core issue centers on whether the Fed can continue to make decisions based on economic data rather than succumbing to political pressure. Despite these challenges, the commitment remains to fulfill the duties with integrity and serve the American people.
Read More
DHS Agents Reluctant to Deploy to Minneapolis Amidst Growing Backlash
Senator Murkowski has stated that if the Department of Justice investigates Chair Powell based on cost overruns, Congress should investigate the Department of Justice to protect the Federal Reserve’s independence. Senator Tillis is blocking all Federal Reserve nominees until the Justice Department ends its investigation into Powell and other Fed officials. Tillis believes the Department of Justice’s credibility is now in question and will oppose any Fed nominees, including for the upcoming Chair vacancy, until the matter is resolved. The Senate Banking Committee’s current Republican majority gives Tillis significant power to stall nominations.
Read More
Trump’s Attacks on Powell Won’t Backfire: A Desperate Play
The Trump administration initiated a criminal investigation into Federal Reserve Chair Jerome Powell, alleging he lied to Congress about headquarters renovations, a move perceived as an attempt to force interest rate cuts. This investigation is considered a tactical blunder, as it demonstrates Trump’s true motive of undermining the Fed’s independence for political gain. The probe also reveals why the judiciary must protect Powell, as Trump’s actions showcase his disregard for the rule of law. Ultimately, the Supreme Court, already wary of the administration’s actions, should use this as reason to impose strict limits on the president’s ability to fire the Fed’s members.
Read More
Gold Prices Soar Amidst Trump-Powell Tensions: A Sign of Market Instability
Gold and silver prices surged to record highs on Monday, driven by escalating geopolitical and economic uncertainties and expectations of U.S. interest rate cuts. Gold reached above $4,600 per ounce, while silver hit a fresh peak as investors sought safe-haven assets amidst the Trump administration’s scrutiny of Federal Reserve Chair Jerome Powell. This rally was also fueled by the anticipation of further rate cuts later in the year, as well as rising geopolitical tensions, including Trump’s response to events in Iran and other international developments. These factors led to strong gains in platinum and palladium as well.
Read More
Stocks Unfazed by DOJ Probe of Fed Chair Jerome Powell
Stocks drop after DOJ opens criminal probe into Fed chair Jerome Powell, and the initial reaction seems a bit…understated, to put it mildly. We’re talking about a criminal investigation into the very person who steers the Federal Reserve, the entity that’s supposed to be the bedrock of our economic stability, and yet the market’s response is less a plummet and more a gentle dip. Many comments I’m seeing point out that, at least initially, the market showed remarkable resilience, even recovering some losses. This raises questions, doesn’t it?
The prevailing sentiment seems to be that a significant market drop wasn’t the immediate outcome.… Continue reading
Powell Defies Trump “Intimidation” as DOJ Launches Probe: Analysis
Federal Reserve Chair Jerome Powell announced that the US Department of Justice is threatening him with criminal charges, which he condemned as intimidation for not adhering to President Trump’s interest rate policy demands. Powell stated that grand jury subpoenas were served related to his congressional testimony on Fed office building renovations, but asserted that the accusations are a pretext for political pressure. The charges, Powell claims, are a consequence of the Federal Reserve setting interest rates based on economic assessments rather than presidential preferences. Democratic members of Congress have come to Powell’s defense, accusing Trump of undermining the rule of law.
Read More
Senator Vows to Block Fed Nominees After DOJ Investigates Powell
Following the Justice Department’s investigation into Federal Reserve Chair Jerome Powell, several Republican lawmakers have voiced their opposition. Senator Thom Tillis has vowed to block all future Federal Reserve nominations until the legal matter is resolved, citing concerns over the administration’s attempts to undermine the Fed’s independence. Other senators, including Lisa Murkowski and John Kennedy, have also expressed support for an independent Fed. The investigation is reportedly linked to Powell’s testimony regarding the headquarters renovation costs and the administration’s frustration with the Fed’s interest rate policy, which President Trump has publicly criticized.
Read More
Trump Denies Involvement in DOJ Subpoenas: “I Don’t Know Anything About It”
The Justice Department has subpoenaed the Federal Reserve, prompting President Trump to deny any knowledge of the investigation while also criticizing Federal Reserve Chair Jerome Powell. Powell responded by stating the Justice Department is threatening possible criminal indictment related to his Senate testimony about renovations, viewing it as part of the administration’s pressure campaign to lower interest rates. This move follows Trump’s prior expressions of considering legal action against Powell. The investigation has drawn criticism from senators, with some vowing to oppose future Trump nominees for the Fed until the matter is resolved.
Read More
Republican Senator Murkowski Calls for Probe into Trump’s DOJ
Following the announcement of a criminal probe into Federal Reserve Chair Jerome Powell, Republican Senator Lisa Murkowski called for a congressional investigation into the Department of Justice, viewing the probe as an attempt to pressure the central bank into lowering interest rates. The controversy stems from a DOJ investigation focusing on Powell’s June congressional testimony regarding the Fed’s building renovation costs. Several lawmakers have pledged to block President Trump’s Federal Reserve nominees until the matter is resolved, citing concerns that political interference could undermine the Fed’s independence. This action is viewed as a significant escalation in Trump’s ongoing campaign against Powell and the Fed’s monetary policy.
Read More
US Federal Inquiry into Powell: Political Interference Threatens Fed Independence
The news that US federal prosecutors have opened an inquiry into US Fed Chair Jerome Powell, as reported by the New York Times, is frankly alarming. It’s the kind of development that makes you question the very foundations of economic governance, especially given the current political climate. The focus seems to be on Powell’s testimony before the Senate Banking Committee regarding the renovation of Federal Reserve buildings. But, as Powell himself has pointed out in his video response, available online, this might be a pretext for something much deeper.
This situation feels like a deliberate attempt to undermine the Federal Reserve’s independence.… Continue reading
Powell: Federal Reserve Chair Speaks Out Against Political Pressure
Good evening. Regarding the recent actions taken by the Department of Justice, grand jury subpoenas have been served to the Federal Reserve, threatening a criminal indictment stemming from testimony before the Senate Banking Committee. This unprecedented action is viewed as a consequence of the Federal Reserve’s independent setting of interest rates, rather than adhering to political preferences. The core issue centers on whether the Fed can continue to make decisions based on economic data rather than succumbing to political pressure. Despite these challenges, the commitment remains to fulfill the duties with integrity and serve the American people.
Read More