Federal Reserve Chair Jerome Powell revealed that the Justice Department has issued grand jury subpoenas to the central bank, a move he described as unprecedented pressure on monetary policy. Economists and global leaders quickly rallied to defend the Fed’s independence, warning that prosecutorial attacks could undermine credibility and stability.
DOJ Subpoenas Fed
All three living former Fed chairs and five ex‑Treasury secretaries condemned the inquiry, likening it to practices in weaker economies. Treasury Secretary Janet Yellen called the probe “extremely chilling,” while lawmakers and investors voiced alarm. Critics argue the investigation risks politicizing monetary policy, threatening inflation control and market confidence.
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