Fed Chair Jerome Powell Rings Every Alarm Bell About DOJ Investigation
Federal Reserve Chair Jerome Powell shot back at President Trump Sunday after the Department of Justice served the Fed’s board with grand jury subpoenas.
In a statement, Powell called the move a “threat of criminal charges,” saying it was a “consequence of the Federal Reserve setting interest rates based on our best assessment of what will serve the public, rather than following the preferences of the President.”
“I have deep respect for the rule of law and for accountability in our democracy. No one—certainly not the chair of the Federal Reserve—is above the law. But this unprecedented action should be seen in the broader context of the administration’s threats and ongoing pressure,” Powell noted.
Trump has railed against Powell and his stewardship of the Fed for months, attacking the chairman whom he appointed during his first term on everything from his criticism of tariffs to his refusal to cut interest rates as quickly or as much as Trump wants. This grand jury summons is ostensibly over the high cost of renovations to the Fed’s office buildings, which Trump has exaggerated as pretext to attack Powell.
Powell warned that the DOJ’s action is a pretext to coerce the Fed to do Trump’s bidding.
“This is about whether the Fed will be able to continue to set interest rates based on evidence and economic conditions—or whether instead monetary policy will be directed by political pressure or intimidation,” Powell said.
Powell: The threat of criminal charges is a consequence of the federal reserve setting interest rates based on our best assessment of what will serve the public rather than following the preferences of the president
This is about whether the fed will be able to continue to set… pic.twitter.com/InKimVUp21
By law, the Fed is supposed to be politically independent. That hasn’t stopped Trump from trying to fire one of the board’s governors, Lisa Cook, or from issuing this unheard-of subpoena. In reality, Trump is mad that his own policies are tanking the economy, but refuses to recognize that. Unfortunately for him, having yes-men at the Fed will not bring forth the economic renaissance Trump seems to think he’s capable of.
Donald Trump humiliated himself Friday when Secretary of State Marco Rubio tried to slyly pass him a note during a meeting with oil executives, and the president immediately read it aloud.
Trump was in the midst of promising “a very nice return” for executives from Chevron, ConocoPhillips, Exxon, Halliburton, Valero, and Marathon—in exchange for a $100 billion investment in rebuilding Venezuela’s energy sector, when he was suddenly sidetracked by a scrap of paper from Rubio.
“You’re all gonna do very well—Marco just gave me a note. ‘Go back to Chevron, they want to discuss something,’” Trump read, turning to look at Chevron Vice Chairman Mark Nelson. “Go ahead, I’m going back to Chevron, Mark.”
Rubio grimaced uncomfortably, as Trump patted him on the back. “Thank you, Marco,” he said.
“Was there a question, Mr. President?” Nelson asked.
“Yes, go ahead Marco, what are you saying here?” Trump asked, inspecting the note again.
Energy Secretary Chris Wright jumped in. “Mark, if you could update us on operations on the ground, appropriate approvals, what you might be able to achieve in the next 12 to 18 months—give us a little view from the ground,” he said.
Marco Rubio hands Trump a note that was meant to be private and then Trump reads it aloud pic.twitter.com/IwJdl5CsF8
Nelson launched into a description of Chevron’s ground operations. Chevron is the only oil company currently operating in Venezuela, as part of a joint venture with Petróleos de Venezuela. Wright told CNBC Wednesday that the Trump administration was receiving “daily updates” from Chevron and working closely to “allow their model to grow even more.”
Trump’s gaffe was part of a larger trend of cognitive decline, as the aged president has spent the last year in office appearing to fall asleep during meetings and giving incoherent, confused rants.
Katie Miller, the wife of Trump adviser Stephen Miller, fumed Friday when ChatGPT didn’t give her the answer she wanted about the ICE shooting in Minneapolis.
Miller shared a post on X from one right-wing commentator that appeared to show an interaction with ChatGPT, in which a user asked the chatbot “who was responsible” for killing Renee Good.
“Based on available video and reporting: ICE agents escalated a chaotic stop, gave conflicting commands, and fired as the woman tried to leave,” the chatbot replied. “The responsibility for the shooting lies with the U.S. Immigration Enforcement agent who pulled the trigger.”
That answer wasn’t good enough for Miller, however. “ChatGPT is dangerously woke,” Miller wrote on X. “An AI that wrongly judges an outcome is a threat to the future of nation and world. xAI is the only truth-seeking AI.”
(xAI is Elon Musk’s chatbot that is under fire for making sexualized images of women and children. It has already been used to generate an image of Good’s body in a bikini.)
Surprisingly enough, ChatGPT’s description of the violent shooting was right on the money.
Initial footage of the incident showed Good wave at the agents and urge them to “go around” her vehicle. (Newly obtained video showed that Good wasn’t fully blocking the street, as cars were able to pass her on either side.) ICE agents swarmed her vehicle, pulling on the doors with one officer demanding she “get out of the fucking car!” while another ordered her to leave.
When Good attempted to drive away from the group of officers, one ICE agent, Jonathan Ross, who was standing near the front of the vehicle, pulled out his service weapon and shot her once through the windshield, and twice through the driver’s side-window. Ross had a history of escalating arrests with violent tactics. Another new video shows that an unidentified agent said, “Fucking bitch,” after Ross fired.
Miller shared another X post calling ChatGPT a “national security threat.” She then © New Republic
