Trump says he has no knowledge of DOJ subpoenas to Fed chair Jerome Powell

According to People, Donald Trump said on Monday, Jan. 12, that he "doesn't know anything" about a Justice Department investigation after the DOJ served grand jury subpoenas on the Federal Reserve and Chair Jerome Powell. Powell said in a video statement on Sunday, Jan. 11, that the DOJ had threatened him with a criminal indictment after his June testimony and linked the subpoenas to his refusal to follow Mr.

Trump's "pressure" and "intimidation" to lower interest rates. Powell defended the Fed's $2.5 billion renovation of two historic office buildings and 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." A DOJ spokesperson declined to comment on the Fed's case but said the Attorney General had instructed U.S.

Attorneys to prioritize investigating any abuse of taxpayer dollars, according to Reuters. Speaking to NBC News, Trump said the DOJ's actions had nothing to do with interest rates: "No. I wouldn’t even think of doing it that way," and added, "What should pressure him is the fact that rates are far too high" and "He’s hurt a lot of people." The White House and the Department of Justice did not immediately respond when contacted, the article said.

Key Topics

Politics, Donald Trump, Jerome Powell, Federal Reserve, Interest Rates, Fed Buildings