Jerome Powell is facing a criminal investigation over his testimony to Congress about the renovation of the Federal Reserve buildings
US President Donald Trump’s administration is using a criminal investigation as “intimidation” to pressure the Federal Reserve over its monetary policy, Fed Chair Jerome Powell said on Monday.
The US president has long criticized Powell for refusing to make bigger interest-rate cuts, as well as over the $2.5 billion in reconstruction costs of the institution’s historical buildings, which Trump described as excessive.
The inquiry into whether Powell lied to Congress about the scope and costs of the Fed buildings…
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