Powell responds to criminal investigation: criminal subpoena is a "political pretext," vows to withstand pressure from Trump

PANews, January 12 – According to Jinse Finance, Federal Reserve Chairman Powell stated that the U.S. Department of Justice threatened on Friday to bring criminal charges against him for his Senate testimony last June, which involved a multi-year renovation project of a building. A grand jury subpoena was delivered last Friday. The new threat is unrelated to his testimony or the renovation project and is merely an excuse. The broader issue is whether the Federal Reserve will continue to set interest rates based on evidence and economic data, or be swayed by political pressure and intimidation. While fulfilling my duties, I neither fear political pressure nor favor any political stance, and will continue to do so. I have deep respect for the rule of law, but this action is unprecedented and should be viewed in the context of the current administration's ongoing pressure on the Federal Reserve.