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Jan. 11th, 2026 07:51 pm![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
timeletsRemarkable, how hard Trump is trying to turn the US into a banana republic.
The Fed received grand jury subpoenas from the Justice Department on Friday that threaten a criminal indictment relating to Powell’s testimony, the Fed chair said in a video statement on Sunday night.
“This is about whether the Fed will be able to continue to set interest rates based on evidence and economic conditions—or whether instead monetary policy will be directed by political pressure or intimidation,” Powell said in the statement.
The investigation, which is being run out of the office of Washington’s U.S. attorney Jeanine Pirro, a close Trump ally, began in November and is examining Powell’s congressional testimony and the Fed’s spending records, people familiar with it said.
https://www.wsj.com/economy/central-banking/federal-reserve-received-justice-department-subpoena-threatening-criminal-indictment-e9e3f84d
