Justice department opens investigation into Jerome Powell as Trump ramps up campaign against Federal Reserve
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The Department of Justice has initiated a criminal investigation into Jerome Powell, the chair of the Federal Reserve, amid escalating tensions with former President Donald Trump. Powell has publicly criticized the investigation, suggesting it is a retaliatory measure for the Fed's independence in setting interest rates. This situation highlights the ongoing conflict between the Trump administration and the central bank, raising concerns about the integrity of monetary policy.
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The Federal Reserve has historically operated independently from political influence, making decisions based on economic indicators rather than political pressures. Trump's administration has frequently criticized the Fed's policies, particularly regarding interest rates, which he believes should align more closely with his economic agenda.
This article reflects the opinions and reporting of The Guardian and does not necessarily represent the views of the editor.
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