Powell says rate policy under threat after DOJ action against the Fed

Federal Reserve Chair Jerome Powell alleged that the Department of Justice (DOJ) is employing criminal charges to exert pressure on the Fed's monetary policy decisions. The Fed received grand jury subpoenas related to Powell's prior Senate testimony about a renovation project, though Powell asserted the charges stem from the Fed's commitment to setting interest rates independently, contrary to the White House's preferences. Powell emphasized that this situation tests whether the Fed can continue setting rates based on economic evidence or if policy will succumb to political intimidation. He affirmed his commitment to performing his duties "without political fear or favor," noting ongoing tension between the Fed and the Trump administration regarding interest rate policy.

(Source：Crypto Briefing)