Summary
Three former heads of the U.S. central bank, including Janet Yellen, have criticized a criminal investigation into Federal Reserve Chair Jerome Powell. They argue that this investigation threatens the independence of the Federal Reserve. The probe reportedly relates to testimony Powell gave about building renovations at the Federal Reserve.
Key Facts
- Three former Federal Reserve chairs, including Janet Yellen, criticized the investigation into Jerome Powell.
- The criticism came from a group of 10 economic policy leaders, including former Treasury Secretaries.
- The group argues the investigation threatens the Federal Reserve's independence.
- Jerome Powell stated the investigation follows his Senate testimony about Federal Reserve building renovations.
- Powell believes the investigation is linked to President Trump's criticism over interest rate decisions.
- President Trump has publicly pressured Powell to lower interest rates.
- Trump has considered firing Powell, but he has not acted on this idea.
- The Department of Justice was contacted for comment on the investigation.
