"Jerome Powell broke his silence on Sunday - this time on camera. In a rare move, the Federal Reserve Chair released a video message after he said the central bank had received grand jury subpoenas that could lead to a criminal indictment. Powell said the subpoenas related to his June testimony about renovation projects at the Fed's offices, and Trump's administration used the move as pressure to lower interest rates."
"Powell has typically avoided responding publicly to Trump's attacks, reinforcing the image of the Fed's independence. Opting to make a video statement was a way to project calm, while signaling the stakes of the situation, said communications and leadership experts. Here are three reasons Powell's video was a power move: Videos are easier to share In the roughly two-minute-long video, Powell emphasized what he said was driving the DOJ probe."
Jerome Powell released a rare video after revealing the Federal Reserve had received grand jury subpoenas connected to his June testimony about renovation projects at Fed offices. The subpoenas could lead to a criminal indictment and were portrayed as political pressure from the Trump administration to push for lower interest rates. Former Fed chairs and business leaders criticized the subpoenas while Trump denied knowledge of the investigation. Powell typically avoids public responses to presidential attacks to preserve Fed independence; choosing a video conveyed calm, controlled the narrative directly to audiences, and emphasized the probe's implications for monetary-policy independence.
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