Thomas Downs retweetledi
BREAKING: Fed Chair Jerome Powell stuns MAGA world by hitting back hard after Trump's corrupt prosecutors launched a sham investigation into him — exposing the invented "pretexts" used to target him.
The usually stoic Powell is done holding back...
"Good evening. On Friday, the Department of Justice served the Federal Reserve with grand jury subpoenas, threatening a criminal indictment related to my testimony before the Senate Banking Committee last June," Powell said in a video shared by the official Federal Reserve account on X. "That testimony concerned, in part, a multi-year project to renovate historic Federal Reserve office buildings.
"I have deep respect for the rule of law and for accountability in our democracy," Powell continued. "No one-certainly not the Chair of the Federal Reserve-is above the law. But this unprecedented action should be seen in the broader context of the Administration's threats and ongoing pressure."
"This new threat is not about my testimony last June or about the renovation of the Federal Reserve buildings," he went on. "It is not about Congress's oversight role. The Fed, through testimony and other public disclosures, made every effort to keep Congress informed about the renovation project."
"Those are pretexts," he said. "The threat of criminal charges is a consequence of the Federal Reserve setting interest rates based on our best assessment of what will serve the public, rather than following the preferences of the President. 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."
"I have served at the Federal Reserve under four Administrations-Republicans and Democrats alike. In every case, I have carried out my duties without political fear or favor, focused solely on our mandate of price stability and maximum employment," he continued. "Public service sometimes requires standing firm in the face of threats."
"I will continue to do the job the Senate confirmed me to do-with integrity and a commitment to serving the American people. Thank you," concluded Powell.
Powell deserves the full-throated support of the American people. Trump's utterly corrupt Justice Department is targeting him simply because he has resisted lowering interest rates. Trump is desperate to lower those rates to bolster his failing White House. In that desperation he has launched an all-out attack on the Federal Reserve's independence.
Please ❤️ and share if you stand with Jerome Powell!
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