Fed Chairman Jerome Powell fears criminal indictment as Trump-Fed confrontation intensifies
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“I have served at the Federal Reserve under four administrations, Republicans and Democrats alike. In every case, I have carried out my duties without political fear or favor, focused solely on our mandate of price stability and maximum employment,” Powell said. “Public service sometimes requires standing firm in the face of threats. I will continue to do the job the Senate confirmed me to do, with integrity and a commitment to serving the American people.”
Powell said that the subpoenas were served last Friday.
During his testimony in June, Powell was asked about the cost of the renovations around the 36-minute mark of the hearing. He began by saying, “We do take seriously our responsibility as stewards of the public’s money,” but concluded, “The cost overruns are what they are.”
He also denied several of what he said were media inaccuracies, including reports of “special elevators,” new marble, “roof terrace gardens,” and “beehives.”
In a rare confrontation with Powell, President Trump, wearing a hard hat, visited the construction site in late July to challenge him on the “overruns.” Powell said he was “unaware” of the new numbers Trump presented to him.
Days before the July confrontation between Powell and Trump, Rep. Anna Paulina Luna (R-Fla.) sent a criminal referral for Powell to the Department of Justice.
On Sunday evening, Luna responded to the news of the grand jury subpoenas, repeating her allegations against Powell: “It’s good to see my criminal referral working in real time. You CANNOT lie to Congress. That is called PERJURY.”
No criminal charges have been brought against Powell at the time of writing.
The Department of Justice did not respond to a request for comment from Blaze News.
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