Federal prosecutors: felony investigation towards Fed governor Powell | EUROtoday

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Federal prosecutors are conducting a felony investigation into Federal Reserve Chairman Jerome Powell, specializing in the $2.5 trillion renovation of the central financial institution’s headquarters in Washington, D.C., and his associated testimony to Congress.

Powell stated the investigation was the results of President Donald Trump’s long-standing frustration with the Fed’s refusal to chop rates of interest as rapidly and sharply because the president requested.

“The threat of criminal charges is a consequence of the Federal Reserve setting interest rates based on its best assessment of what will benefit the public, rather than based on the president’s preferences,” Powell stated in a video tweeted from the Fed’s X account.

The president warned that the end result of the investigation will decide the way forward for the central financial institution’s choices.