Federal Reserve Chair Jerome Powell has issued a stark warning to President Donald Trump, accusing him of attempting to politicize the Federal Reserve's independence and threatening the very foundations of America's economic system. In a video statement, Powell explicitly stated that he refused to lower interest rates as quickly as Trump demanded, sparking a grand jury investigation into the matter.
The real reason behind the subpoenas, according to sources, is not about characterizing details of a $2.5 billion renovation project at the Fed's Washington headquarters but rather about silencing Powell for his refusal to comply with the president's demands on monetary policy. By doing so, Trump has shown an alarming disregard for the autonomy and independence of the Federal Reserve.
This brazen attack is staggering, especially considering the Fed's long-standing tradition of independence, designed by the Banking Act of 1935 to prevent presidential interference in monetary policy decisions. This principle has been upheld across nearly every major democracy worldwide, with central banks operating under the same premise to avoid inflation and instability.
Powell's bravery lies in speaking out against Trump's authoritarian tendencies, which have become increasingly evident over the past few months. The president has repeatedly called for Powell's dismissal, accused him of incompetence, and mocked him publicly, as if the Federal Reserve existed solely to serve his whims. By refusing to lower interest rates as quickly as Trump demanded, Powell was effectively saying "no" – a response that Trump and his allies saw as a threat.
The investigation into Powell is part of a broader pattern of authoritarian escalation under Trump, with imaginative laws requiring 10% credit card interest rates and threats against ExxonMobil for questioning the administration's plans in Venezuela. The Justice Department has been weaponized to go after political enemies, journalists, and now the chair of the Federal Reserve.
Powell's actions serve as a beacon of hope, bridging the gap between ordinary people placing themselves at risk to protect their neighbors and exercising their First Amendment rights, and the cowardice and silence displayed by elites. As his term as Fed governor runs until 2028, Powell could consider staying on if genuinely concerned about the Federal Reserve's independence.
Instead of clearing the field for a loyalist, Trump may have inadvertently ensured that a defiant guardian of institutional norms remains inside the building for years to come.
The real reason behind the subpoenas, according to sources, is not about characterizing details of a $2.5 billion renovation project at the Fed's Washington headquarters but rather about silencing Powell for his refusal to comply with the president's demands on monetary policy. By doing so, Trump has shown an alarming disregard for the autonomy and independence of the Federal Reserve.
This brazen attack is staggering, especially considering the Fed's long-standing tradition of independence, designed by the Banking Act of 1935 to prevent presidential interference in monetary policy decisions. This principle has been upheld across nearly every major democracy worldwide, with central banks operating under the same premise to avoid inflation and instability.
Powell's bravery lies in speaking out against Trump's authoritarian tendencies, which have become increasingly evident over the past few months. The president has repeatedly called for Powell's dismissal, accused him of incompetence, and mocked him publicly, as if the Federal Reserve existed solely to serve his whims. By refusing to lower interest rates as quickly as Trump demanded, Powell was effectively saying "no" – a response that Trump and his allies saw as a threat.
The investigation into Powell is part of a broader pattern of authoritarian escalation under Trump, with imaginative laws requiring 10% credit card interest rates and threats against ExxonMobil for questioning the administration's plans in Venezuela. The Justice Department has been weaponized to go after political enemies, journalists, and now the chair of the Federal Reserve.
Powell's actions serve as a beacon of hope, bridging the gap between ordinary people placing themselves at risk to protect their neighbors and exercising their First Amendment rights, and the cowardice and silence displayed by elites. As his term as Fed governor runs until 2028, Powell could consider staying on if genuinely concerned about the Federal Reserve's independence.
Instead of clearing the field for a loyalist, Trump may have inadvertently ensured that a defiant guardian of institutional norms remains inside the building for years to come.
Can't believe what's going down at the Fed! Jerome Powell is literally standing up to Trump and refusing to be bullied into doing his bidding. I mean, the guy's been trying to politicize the economy and control the interest rates, but Powell's all like "nope, not gonna happen". 
I'm shocked by this whole thing! What's going on is straight outta a movie 
. Trump thinks he can just do whatever and the Fed will comply? Newsflash, Donald: the Fed ain't your personal ATM 
. Powell's been holding strong against Trump's demands, and that's not gonna sit well with him 
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, and it's like he thinks he can just dictate policy via 280 characters 
. But here's the thing: the Fed ain't about serving one person's agenda, it's about keeping the economy stable 
. There was this guy who stood up for what he believed in despite everyone trying to silence him 
. Powell's doing the same thing, and I gotta respect that 
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. The Fed's independence is crucial to maintaining trust in our economy 
. We can't have some rogue president just messing with monetary policy like it's a game of Monopoly 
. Powell's bravery is exactly what we need right now 
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The Fed's independence is a fundamental part of its existence, and it's not up for debate.
. He’s basically standing up to Trump like he’s a normal boss not a president and it’s kinda refreshing. I mean, who wouldn’t want their chairperson to make decisions based on science and economics instead of just what the current guy in power wants? The fact that Trump is so desperate to get his way and attack Powell for refusing to give in shows how out of touch he is with reality 
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. It's like Trump thinks he can just do whatever he wants and expect everyone else to roll over? Newsflash: no one checks your power, Donald 
. It's like he thinks the justice system is there just for him 
. The fact that Powell is still standing after this is actually kinda inspiring 
he's standing up 2 trumps blatant disregard 4 the fed's independence & autonomy... i mean, can u imagine if ppl were treated like that in other institutions? it's chilling 
the fed's independence is everything, btw 
. This is getting outta hand, Trump thinks he can just bully and intimidate Powell into doing what he wants? Like, newsflash: being the President doesn't give you carte blanche to dictate monetary policy 
. The Fed's independence is a cornerstone of this country's economic stability, and Trump is trying to dismantle it like it's a bad joke 
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It's a slippery slope, folks, and we need to be paying attention before it's too late 
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. and let's not forget about all those grand jury investigations and the justice department being used against trump's enemies... it's like he's trying to create a whole new american system of control 
. powell's gotta be some kind of hero or something for speaking out against trump's antics 
The fact that Trump is going after Powell like this is just crazy... I mean, who does he think he is? Powell's got balls for speaking up and refusing to back down, and now he's in a grand jury investigation 
. And what's really scary is that this kind of behavior is becoming super normal under Trump... Interesting
. We need people like him to keep our economy stable and our democracy healthy 
. The fact that Trump is trying to silence Powell for refusing to lower interest rates shows how desperate he is to get what he wants 
his move on powell was super bold and i love how powell stuck to it even when trump was trash talking him publicly 
but what's up with these subpoenas? they're definitely not about that $2.5 billion renovation project 
. On the bright side, maybe Powell staying on will give us someone who actually cares about the Fed's independence and isn't just gonna roll over whenever Trump wants something 
. Fingers crossed!