TRUMP'S DOJ TARGETED POWELL: Democrats Launch Explosive Investigation!

A political firestorm is brewing on Capitol Hill as House Democrats demand a full congressional investigation into a Justice Department probe targeting Federal Reserve Chairman Jerome Powell. The inquiry centers around accusations that the investigation is a politically motivated attempt to intimidate the Fed and influence monetary policy.

The catalyst for the uproar is a criminal investigation launched by the DOJ into statements Powell made regarding renovations to the Federal Reserve’s historic building. Democrats argue this is a “sham” investigation, a blatant effort by the former President to strong-arm the Fed into lowering interest rates to suit his personal preferences, rather than economic realities.

Leading the charge is Representative Jamie Raskin, the top Democrat on the House Judiciary Committee, alongside Representative Jared Moskowitz and other party members. They’ve formally requested that Judiciary Committee Chairman Jim Jordan convene a public hearing and potentially subpoena key DOJ officials, including U.S. Attorney for the District of Columbia Jeanine Pirro.

Pirro, who is leading the investigation, has publicly accused Powell of non-cooperation, stating her office was repeatedly ignored when seeking information about cost overruns. She insists the investigation isn’t a threat of indictment, a claim Powell himself raised in a public statement.

Powell contends the DOJ’s actions are a direct response to the Federal Reserve’s independence, specifically its refusal to accelerate interest rate cuts despite public pressure from the former President. This echoes a pattern of criticism from the former President, who has repeatedly attacked Powell’s performance and decisions.

While the former President has denied initiating the probe, he also offered a pointed critique of Powell’s leadership, questioning his competence both at the Fed and in building management. He has also stated he has no current plans to remove Powell from his position.

The investigation isn’t solely drawing ire from Democrats. Concerns are surfacing on the Republican side as well, with some expressing fears that the probe could undermine the Fed’s independence and jeopardize future administrations’ ability to formulate sound monetary policy. Chairman French Hill emphasized the distraction created by pursuing charges related to building renovations during a critical economic period.

The situation has created a tense atmosphere, prompting questions about the integrity of the Justice Department and the potential for political interference in the nation’s central bank. The call for a congressional inquiry signals a deepening conflict with potentially far-reaching consequences for the stability of the financial system.

The White House has deferred comment to the DOJ, while Pirro’s office has declined to address the Democrats’ demands. The outcome of this unfolding drama remains uncertain, but the stakes are undeniably high for the Federal Reserve and the broader American economy.