Jerome Powell News | Why Trump Admin Has Threatened Fed Chair With A Criminal Indictment The Trump administration has threatened to indict Federal Reserve Chair Jerome Powell over Congressional testimony he gave last summer about a Fed building project, an action Powell called a “pretext” to gain more influence over the central bank and monetary policy. The development in the long-simmering effort by President Donald Trump for greater control over the Fed had immediate fallout, with Republican Senator Thom Tillis, a member of the Senate Banking Committee that vets Presidential nominees for the Fed, saying in a statement on X that the threatened indictment puts the Department of Justice’s “independence and credibility” in question. Tillis said he would oppose any Trump nominees to the Fed, including the president’s coming choice of a new chair, “until this legal matter is fully resolved.”
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