Janet Yellen, the former head of the Federal Reserve, has publicly stated that she believes a Department of Justice investigation into current Fed Chair Jerome Powell is "politically motivated." This investigation was announced in recent days as the DOJ threatened a grand jury indictment against Powell.
Yellen claims there's no basis for this probe. According to her, it’s an attempt by President Donald Trump to exert greater control over monetary policy. Yellen also pointed out that there have been several serious threats made towards the Central Bank’s independence from the administration.
In response to the allegations made by Trump about Powell being "not very good at the Fed," Yellen stated that Trump's actions are indicative of his effort to weaken the Federal Reserve and control interest rates.
Yellen claims there's no basis for this probe. According to her, it’s an attempt by President Donald Trump to exert greater control over monetary policy. Yellen also pointed out that there have been several serious threats made towards the Central Bank’s independence from the administration.
In response to the allegations made by Trump about Powell being "not very good at the Fed," Yellen stated that Trump's actions are indicative of his effort to weaken the Federal Reserve and control interest rates.
what a joke 
if trump is really trying to control monetary policy through a grand jury indictment... like he even knows how economics works 
powell has been doing fine for years, don't @ me 
yellen's right, this whole thing reeks of trump trying to meddle with the fed for his own gain 
it's a classic case of a president trying to strong-arm his way into controlling the country's monetary policy... like that's gonna end well 
. First off, why would Trump do this? He's all about flexing his muscles and showing who's boss. The Fed being independent is a big deal for him because it means they're not beholden to the President... but what if they were able to be? It'd give him way more power than he already has 
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The DOJ thinks they can just bully Jerome Powell into submission over there? Come on, it's just another attempt by Trump to stick his nose in where it doesn't belong... I mean, what's next? Trying to control the Fed like some kinda dictator? 
And Janet Yellen is right, these threats towards the Central Bank's independence are getting old. It's time for them to stop playing games and just do their jobs! 
The Fed has got this, Jerome Powell doesn't need some kind of grand jury indictment to tell him that... he's been doing a great job so far anyway. 
. yellen's right on point tho, this whole thing reeks of trump tryin to exert control over the fed like he's some kinda economic dictator 
. and what's with all these threats against the central bank's independence? cmon man, can't we just have a peaceful monetary policy without politics gettin involved 
. I mean, think about it - the Fed has been pretty chill under Biden too, so this all feels a bit suspicious 
. Not sure what Trump's end game is here...
. But at the same time, you gotta wonder if there's some truth to these allegations... did Trump really try to strong-arm Powell into doing his bidding? 
. They're supposed to make decisions based on what's best for the country, not just what's good for you or your donors 
But at the same time, I'm all for a strong and independent Fed – it's what keeps our economy from getting too wonky 
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