President Donald Trump insists he is not involved in the criminal investigation by the U.S. attorney for the District of Columbia into the actions of Federal Reserve Chairman Jerome Powell. But the president has openly claimed “absolute” control over the Justice Department. Training federal prosecutors on Powell fits Trump’s pattern of pressuring the Fed and going after opponents, and is also an unprecedented assault on the Fed’s independence. The administration should end the investigation at once.

Trump has been pressing Powell to cut interest rates since the third day of his second term, steadily ratcheting up public pressure as the Fed chairman has refused to do his bidding. The criminal investigation into Powell stems from testimony he gave to Congress last June. Under questioning from the Senate Banking Committee about the Fed’s renovation of its Washington D.C. headquarters, Powell testified that the plans for the project included “no VIP dining room,” “no new marble,” “no special elevators,” “no new water features,” and “no roof terrace agenda.”

Two weeks later, White House Office of Management and Budget Director Russ Vought sent........

© Washington Examiner