It’s hard not to believe that the trump Regime is attempting to blackmail the Federal Reserve.
The Justice Department, per Federal Reserve Chair Jerome Powell, has subpoenaed the Fed in a major escalation in President Donald Trump’s battle with the nation’s central bank. Powell personally made the announcement and defiantly stated that he will not be intimidated (you can watch Powell’s full statement here). Former Federal Reserve Chair Janet Yellen said the Powell probe is “extremely chilling” for Fed independence, and the market should be concerned – which it did, as stock futures and the value of the dollar took an overnight hit. Goldman Sachs’ chief economist Jan Hatzius echoed these sentiments early this morning.
A senior GOP figure – Sen. Thom Tillis (R-NC) – said the criminal investigation into Powell has called the “independence and credibility” of the Justice Department under President Donald Trump into question following the president’s consistent criticism of Powell’s leadership.
Over on CNN, conservative pundit SE Cupp advises DOJ staffers working for Jeanine Pirro to “walk out” over the Powell probe. Watch it here.
And, of course, former game show host Donald J. Trump said he had nothing to do with the DOJ’s move.
There is no question that yesterday’s move dramatically dials up Trump’s war with the Fed.
DEVELOPING…