Fed’s Powell claims indictment threat from Trump admin after senate testimony – The Economic Times Video

U.S. Federal Reserve Chair Jerome Powell said on Sunday (January 11) the Trump administration had threatened him with a criminal indictment and served grand jury subpoenas over Congressional testimony he gave last summer regarding a Fed building renovation project, an action Powell called a “pretext” aimed at putting further pressure on the central bank to lower interest rates. “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,” Powell said in a statement on Sunday in what amounts to a dramatic escalation in the fight between him and Donald Trump that dates to Powell’s first years as chair in 2018.

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