Fed Subpoenaed As DOJ Launches Criminal Probe Into Jerome Powell, Who Vows To “Stand Firm”

By Tyler Durden

Not content with launching a dizzying cascade of international conflicts, Trump just lobbed a nuke at the Fed. 

While Trump’s vendetta against the Fed’s Lisa Cook set for a January showdown before the Supreme Court, the Trump admin dramatically raised the stakes on Sunday when the NYT first reported, and minutes later Fed Chair Jerome Powell confirmed that the US central bank had been served grand jury subpoenas from the Justice Department threatening a criminal indictment, in what Bloomberg said was a dramatic escalation of the Trump administration’s attacks on the Fed.

As the NYT first reported, the US attorney’s office in the District of Columbia has opened a criminal investigation into Powell over the central bank’s renovation of its Washington headquarters and whether the Fed Chair lied to Congress about the scope of the project. The inquiry, which includes an analysis of Powell’s public statements and an examination of spending records, was approved in November by Jeanine Pirro, a longtime ally of President Trump who was appointed to run the office last year, the NYT sources said…

READ FULL ARTICLE HERE… (zerohedge.com)

 

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