US EditionYellen says Powell probe ‘extremely chilling’ for Fed independence, market should be concerned
Janet Yellen said the investigation risks political interference and market instability, urging concern over Federal Reserve independence amid legal scrutiny of Powell.
- On Monday, Treasury Secretary Janet Yellen condemned an investigation into Federal Reserve Chair Jerome Powell, saying it threatens central bank independence and risks market confidence at the New York Federal Reserve.
- The inquiry centers on Powell's June testimony about a renovation, with the U.S. Attorney's Office in Washington, D.C., led by Jeanine Pirro, reportedly examining whether Federal Reserve Chair Jerome Powell lied, while Yellen suggested critics may have political motives.
- Speaking to CNBC, Treasury Secretary Janet Yellen, former Fed chair, said she was surprised markets weren’t more worried and urged greater investor concern about the situation.
- Yellen defended Powell, saying she bristled at the notion he lied and believes political opponents seeking Powell's seat may be behind the allegations.
- Against the backdrop of a $38.4 trillion debt, Treasury Secretary Janet Yellen warned that using Fed policy rates to manage federal finances is irresponsible, noting, `You have a president that says the fed should be cutting rates to lower rate payments on the federal debt.
5 Articles
5 Articles
Janet Yellen rips Trump for targeting Fed chair: 'Road to a banana republic'
President Donald Trump and his allies ramped up their pressure campaign against U.S. Federal Chairman Jerome Powell when the U.S. Department of Justice (DOJ), headed by Attorney General Pam Bondi, launched a criminal investigation of him. The news broke on Sunday, January 11, and Wall Street had a major reaction when it opened on Monday morning.According to Newsweek, "The S&P 500 fell by 0.3 percent, the Dow Jones Industrial Average dropped more…
The administration increases the pressure on the Federal Reserve, threatening to incriminate the governor, according to whom it is intimidation. Janet Yellen: this is a chilling investigation, this is the way to become a banana republic. Wall Street in red
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