US Politics: Democrats, Republicans and Former Fed Chairs Condemn Investigation into Jerome Powell
In a surprising display of unity, all living former chairs of the Federal Reserve have condemned the criminal investigation into Jerome Powell. Ben Bernanke, Alan Greenspan, and Janet Yellen, among others, released a joint statement condemning what they called an "unprecedented attempt to use prosecutorial attacks to undermine that independence." They warned that such actions would have disastrous consequences for inflation and the functioning of economies.
"This is how monetary policy is made in emerging markets with weak institutions, with highly negative consequences for inflation and the functioning of their economies more broadly," they wrote. The former Fed chairs also stated, "It has no place in the United States whose greatest strength is the rule of law, which is at the foundation of our economic success."
The condemnation comes as tensions over the central bank's independence have escalated. Senate Republican Lisa Murkowski said that she spoke with embattled Federal Reserve Chair Jerome Powell earlier today and accused the administration of trying to coerce him. She vowed to block any further nominations for the Fed until the investigation is resolved.
Meanwhile, Elizabeth Warren, a Senator from Massachusetts, has been speaking out against the Trump administration's attempts to influence monetary policy. In a speech at the National Press Club, she criticized the president's efforts to push out Powell and complete his "corrupt takeover" of the central bank.
"We can't rebuild trust by staying silent about abuses of corporate power and tax fairness simply to avoid offending the delicate sensibilities of the already-rich and powerful," Warren said. She emphasized that Democrats need to take a stronger stance against corruption and prioritize working-class interests.
The White House economic council director, Kevin Hassett, was also asked about the investigation during an interview with CNBC. He stated that he had not been briefed on the Justice Department's plans but acknowledged that there were "dramatic cost overruns" on the Federal Reserve renovations.
In a separate development, Nato's general secretary Mark Rutte praised Trump for his efforts to increase defense spending in Europe. Rutte said that without Trump, they would not have seen an increase in defense spending and that he was "absolutely convinced" that the facts supported his claims.
Overall, the condemnation of Jerome Powell by former Fed chairs and politicians from both parties highlights the deepening concerns over the central bank's independence and the administration's attempts to influence monetary policy.
In a surprising display of unity, all living former chairs of the Federal Reserve have condemned the criminal investigation into Jerome Powell. Ben Bernanke, Alan Greenspan, and Janet Yellen, among others, released a joint statement condemning what they called an "unprecedented attempt to use prosecutorial attacks to undermine that independence." They warned that such actions would have disastrous consequences for inflation and the functioning of economies.
"This is how monetary policy is made in emerging markets with weak institutions, with highly negative consequences for inflation and the functioning of their economies more broadly," they wrote. The former Fed chairs also stated, "It has no place in the United States whose greatest strength is the rule of law, which is at the foundation of our economic success."
The condemnation comes as tensions over the central bank's independence have escalated. Senate Republican Lisa Murkowski said that she spoke with embattled Federal Reserve Chair Jerome Powell earlier today and accused the administration of trying to coerce him. She vowed to block any further nominations for the Fed until the investigation is resolved.
Meanwhile, Elizabeth Warren, a Senator from Massachusetts, has been speaking out against the Trump administration's attempts to influence monetary policy. In a speech at the National Press Club, she criticized the president's efforts to push out Powell and complete his "corrupt takeover" of the central bank.
"We can't rebuild trust by staying silent about abuses of corporate power and tax fairness simply to avoid offending the delicate sensibilities of the already-rich and powerful," Warren said. She emphasized that Democrats need to take a stronger stance against corruption and prioritize working-class interests.
The White House economic council director, Kevin Hassett, was also asked about the investigation during an interview with CNBC. He stated that he had not been briefed on the Justice Department's plans but acknowledged that there were "dramatic cost overruns" on the Federal Reserve renovations.
In a separate development, Nato's general secretary Mark Rutte praised Trump for his efforts to increase defense spending in Europe. Rutte said that without Trump, they would not have seen an increase in defense spending and that he was "absolutely convinced" that the facts supported his claims.
Overall, the condemnation of Jerome Powell by former Fed chairs and politicians from both parties highlights the deepening concerns over the central bank's independence and the administration's attempts to influence monetary policy.
The more I think about it, the more I'm like "yikes! 
" This whole thing is just a mess. All these former Fed chairs coming together to condemn Jerome Powell? It's like they're saying "no way Jose!" 
And Elizabeth Warren calling out the Trump administration for trying to influence monetary policy? She's speaking truth, y'all 
. I'm all about that #RuleOfLaw life and it sounds like our country needs a reminder of that ASAP 
. Meanwhile, Kevin Hassett is dodging questions left and right... like what's he hiding? 
The whole thing is just too much drama for me, but I guess one thing is clear: the people are watching 
#JusticeForPowell #FedIndependenceMatters #Accountability
! I mean, can you believe all these bigwigs are coming together against this investigation? It's like they're saying, "Hey, back off, admin!" But what's really going on here? Is it just a power struggle or is there something more to it? 
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This is an interesting development, especially with Elizabeth Warren's speech at the National Press Club. She's definitely making a point about corruption and prioritizing working-class interests. But what's going on behind the scenes? Is there more to this investigation than meets the eye? 
I'd love to see some more facts come out before we start jumping to conclusions.
I think it's kinda awesome to see all these powerful people coming together like this - Democrats, Republicans, and even some former Fed Chairs 
- to condemn the investigation into Jerome Powell! It shows that they're all on the same page when it comes to protecting the independence of the Federal Reserve. And let's be real, who doesn't love a good display of unity? 
I mean, sure, there are some serious issues at play here, but looking on the bright side, this could lead to some major reforms and safeguards being put in place to prevent future interference with monetary policy. Plus, it's always great to see Elizabeth Warren speaking truth to power - she's a total boss 
!
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. She's pushing for Democrats to take a stronger stance on these issues, and I think it's about time we saw more action from our politicians. The White House might be trying to play it cool with Kevin Hassett not being briefed on the Justice Department's plans, but let's be real, they're probably hiding something behind that "dramatic cost overruns" phrase 
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I'm not surprised that all these high-profile figures are coming together to stand up for Jerome Powell's independence. It just goes to show how strongly they value the Fed's role in keeping inflation under control and maintaining economic stability 
. It's like they're trying to sabotage the system for their own gain. Not cool, guys 
. Can't let politics interfere with sound economic policy, you know? 
... I mean, it's great to see some unity across party lines and all, but at the same time, it feels like they're just trying to shut down the investigation before it gets too messy 
. It's like they're trying to send a message that no one wants to mess with the central bank.
. Like, I get it, more spending is always a good thing, but can't we talk about the real issues here? The investigation into Jerome Powell is just another sign that our economy needs some serious scrutiny 
.
, waiting to see what happens next! 
but maybe thats just me thinking too much about it
. Can't they just let the experts do their jobs without all this drama?! 
. Like, don't they know that the Fed is supposed to be independent? This is soooo not good for the US economy 
. The White House is trying to brush it off but I'm like, nope! Not buying it 
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. It seems like they want to take control of monetary policy, which is like a delicate thing that can affect lots of people's lives. I'm not sure what Elizabeth Warren means about "corrupt takeover", but it sounds serious. 