Powell Blasts Trump Administration's Criminal Probe Threatening Fed Independence
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
- Independence Crisis: Powell criticized the Trump administration's criminal probe as an attack on the Federal Reserve's independence, emphasizing that interest rates should be set based on economic conditions rather than political pressure to ensure effective monetary policy.
- Investigation Context: The U.S. Attorney for Washington initiated a criminal investigation into Powell on Friday regarding the renovation of the Fed's headquarters and whether he misled Congress, potentially undermining public trust in the Fed.
- Political Pressure: Trump has repeatedly attacked Powell, threatening legal action and attempting to replace him, indicating that political interference could have profound implications for monetary policy decisions, thereby affecting market stability.
- Future Uncertainty: With Powell's term ending in May, Trump has lined up loyalists to potentially take over, which could lead to significant shifts in future interest rate policies, increasing market concerns about the direction of Fed policies.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
