Trump says he doesn’t ‘know anything about’ the DOJ’s investigation into the Federal Reserve
Justice department opens ‘unprecedented’ criminal probe into Fed chair Jerome Powell
- Donald Trump has denied knowledge of a criminal investigation into the Federal Reserve, despite his long-standing criticism of its Chair, Jerome Powell.
- Jerome Powell stated the investigation is politically motivated, stemming from Trump's pressure on the central bank to cut interest rates.
- The investigation, reportedly approved by Trump ally U.S. Attorney Jeanine Pirro, concerns Powell's testimony about a $2.5 billion renovation project.
- Senator Thom Tillis, a Republican, criticised the probe, warning it undermines the Federal Reserve's independence and the credibility of the Department of Justice.
- Trump has frequently pressured Powell over interest rates and the renovation project, and has indicated he has a replacement in mind for Powell, whose term as chair ends in May.