"Trump stated, 'He's doing a bad job. He should be lowering interest rates.' This reflects his dissatisfaction with Powell's performance as Fed Chairman."
"Judge James Boasberg noted, 'The Government has offered no evidence whatsoever that Powell committed any crime other than displeasing the President.' This highlights the lack of substantial evidence against Powell."
"'There is abundant evidence that the subpoenas' dominant (if not sole) purpose is to harass and pressure Powell either to yield to the President or to resign.' This indicates the motivations behind the investigation."
President Trump threatened to fire Federal Reserve Chairman Jerome Powell, whose term expires soon. Trump criticized Powell for not lowering interest rates and vowed to continue a criminal investigation into the Fed. Powell's term ends in mid-May, but he plans to stay until a successor is confirmed. He also has the option to remain on the board until 2028. A federal judge ruled that the investigation into Powell is intended to intimidate him rather than based on evidence of wrongdoing.
Read at www.npr.org
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