US Senators Rally Around Fed Chairman as Trump's Indictment Threat Looms Large. In a joint statement, three former Federal Reserve chairs - Janet Yellen, Ben Bernanke, and Alan Greenspan – denounced the Justice Department's threat to indict Fed Chairman Jerome Powell, calling it an "unprecedented attempt" to undermine the central bank's independence.
Senator Lisa Murkowski has expressed her support for Republican colleague Thom Tillis' plan to block President Donald Trump's Fed nominees in light of the Justice Department's warning. According to Murkowski, if the Federal Reserve loses its independence, "the stability of our markets and the broader economy will suffer." The senator claimed that the threat from the Justice Department is merely an attempt at coercion.
On Monday, White House economic adviser Kevin Hassett expressed his support for a probe into the Justice Department's actions regarding renovation cost overruns in the new Fed building. Hassett stated he hopes everything turns out "OK" for Powell and emphasized that any investigation will help bring clarity to the situation.
Former officials and experts from both parties have expressed their concern about Trump's administration pursuing an indictment against the Fed chair, viewing it as a threat to central bank independence. The past three heads of the US Federal Reserve - Janet Yellen, Ben Bernanke, and Alan Greenspan – joined 10 other former top economic policymakers in releasing a statement condemning the Justice Department's actions.
The situation highlights growing tensions between President Trump and key figures within his own party. Meanwhile, Powell's term is set to end in May with Kevin Hassett emerging as a potential pick to succeed him.
Senator Lisa Murkowski has expressed her support for Republican colleague Thom Tillis' plan to block President Donald Trump's Fed nominees in light of the Justice Department's warning. According to Murkowski, if the Federal Reserve loses its independence, "the stability of our markets and the broader economy will suffer." The senator claimed that the threat from the Justice Department is merely an attempt at coercion.
On Monday, White House economic adviser Kevin Hassett expressed his support for a probe into the Justice Department's actions regarding renovation cost overruns in the new Fed building. Hassett stated he hopes everything turns out "OK" for Powell and emphasized that any investigation will help bring clarity to the situation.
Former officials and experts from both parties have expressed their concern about Trump's administration pursuing an indictment against the Fed chair, viewing it as a threat to central bank independence. The past three heads of the US Federal Reserve - Janet Yellen, Ben Bernanke, and Alan Greenspan – joined 10 other former top economic policymakers in releasing a statement condemning the Justice Department's actions.
The situation highlights growing tensions between President Trump and key figures within his own party. Meanwhile, Powell's term is set to end in May with Kevin Hassett emerging as a potential pick to succeed him.
. With this whole thing going down, I think it's time for us to take a step back and assess what's really at play here. On one hand, you've got the Senate rallying around Fed Chairman Jerome Powell and denouncing the Justice Department's threat to indict him - that's definitely not a bad thing 
. But then you've got President Trump's administration trying to block Powell's nominees, which could lead to some major instability in the market 
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. If Trump's administration can get away with trying to coerce or intimidate Fed officials, it sets a really bad precedent for the future. And let's not forget that Powell's term is set to end in May - whoever takes over could be under even more pressure from the Justice Department.
. Former officials and experts from both parties are speaking out against Trump's administration, which suggests that there's more to this story than just partisan politics. So yeah, I'm definitely keeping an eye on this situation - it could get messy 
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. And to make matters worse, the three former heads of the Federal Reserve are coming out strong in support of him - Janet Yellen, Ben Bernanke, and Alan Greenspan are all like "hey nope not gonna let that happen" 
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This whole situation is just a huge mess and I don't know how it's gonna play out 
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lets just hope powell can get through his term without any issues and maybe kevin hassett will be a better choice than him 
also, who are these people and why are they talking about them? its all so confusing... 
what's renovation cost overruns even mean for the new fed building? 
. I mean, come on, can't they just do their job without messing with the Fed's independence? 
It's like they're trying to set a bad precedent for future Fed chairs 
. I think it's pretty clear that if Trump's team pursues this indictment, it's gonna be a huge deal and could really disrupt the economy 
! #FedIndependenceMatters #EconomyAtRisk
I mean, what's the point of even having a discussion when it's all just about who's right and who's wrong? Can't we just have a calm conversation for once?