President Donald Trump has criticized Federal Reserve chief Jerome Powell for not cutting interest rates as much and as quickly as the president wants.

cross-posted from: https://beehaw.org/post/24179103

Federal prosecutors have opened a criminal investigation of Federal Reserve Chairman Jerome Powell, he confirmed on Sunday evening.

Powell said the probe was the result of the Fed “setting interest rates based on our best assessment of what will serve the public, rather than following the preferences of” President Donald Trump.

Terrible precedent that will harm our economy’s ability to recover from high unemployment or inflation.

Powell’s statement is worth a read

  • jpreston2005@lemmy.world
    9·
    22 hours ago

    Absolutely fucking insane. Remember when you were a child, and thought all grown-ups knew what they were doing? Were you ever wistful, thinking about how great it will be when you’re grown? Remember what it was like to have faith in our institutions?