With the economy lagging and the Federal Reserve holding tight on interest rates….
And NOT what ole Donald wants?
Any surprise on the annoucment that Trump & Co. would try to intiminate Fed Chair Powell with a criminal investigation ….
Trump wants the guys job so he can steer the Federal Reserve ‘HIS” way….
So far Trump’s attempt’s to charge his foes with crimes has resulted in thrown out charges by Grand Juries and kicked out Federal prosecutors by Federal judges’s….
“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,” Powell said in a video and statement posted to the central bank’s website Sunday….
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President Donald Trump, who originally nominated Powell to serve as Fed chair during his first term in 2017, has spent much of his second term attacking and threatening to fire the Fed chief for not slashing interest rates to juice the economy. The Fed has moved slowly to lower rates, as it weighs a weakening labor market with elevated inflation that has made its job more difficult.
Powell said the threat of prosecution would not interfere with his service as Fed chair. His term as chair ends in May, and Trump is expected to soon announce a decision on his successor.
Sen. Thom Tillis (R-North Carolina) took to X to attack the inquiry. “If there were any remaining doubt whether advisers within the Trump Administration are actively pushing to end the independence of the Federal Reserve, there should now be none,” he said. “It is now the independence and credibility of the Department of Justice that are in question.”
Tillis added that he would oppose the confirmation of any nominee for the Fed, including the upcoming vacancy for chair, “until this legal matter is fully resolved.”…
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But the efforts to convict Trump’s foes have been largely unsuccessful. A federal judge last year disqualified the prosecutor Trump appointed in Virginia with directions to charge Comey and James, and also threw out their indictments. Grand juries then repeatedly refused to reindict James….
Note that Tillis isn’t running for reelection.