Jerome Powell Faces DOJ Investigation Over Fed Renovation Testimony |
Jerome Powell is the latest public official to face Justice Department scrutiny as the Trump administration expands its investigations into perceived political opponents, this time questioning Powell’s congressional testimony about the Fed’s renovation project. Prosecutors allege that Powell falsely testified that amenities including marble, private elevators, a rooftop terrace and dining rooms were not included in the renovation plans.
While a 2021 proposal of the Fed’s renovation plans included these items, Powell testified under oath, “There’s no V.I.P. dining room; there’s no new marble. We took down the old marble; we’re putting it back up. We’ll have to use new marble where some of the old marble broke. But there’s no special elevators. There’s just old elevators that have been there before.” Powell went on to say that plans for the renovations had changed during the renovation project.
According to Powell, the Fed received grand jury subpoenas from the Justice Department last week threatening a criminal indictment.
Powell responded through a video statement Sunday night, in which he called the investigation a pretext as part of President Trump’s continuing campaign to pressure the Fed to lower interest rates and end the independence of the Fed.
“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........