Fed Chair Powell says DoJ served the Fed with subpoenas, threatening indictment; Powell says he will continue to do the job
Importance
Level 1
- Fed Chairman Powell says the Department of Justice is threatening a criminal indictment against him.
- The Fed Chairman says it is about his testimony in front of the Senate Banking Committee last June, but calls this a pretext.
- The Fed Chairman thinks this is really about interest rates saying, "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."
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