Washington
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Federal prosecutors have opened a criminal investigation into the Federal Reserve’s $2.5 billion renovation of its headquarters in Washington, DC.
“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,” Powell mentioned in an announcement late Sunday.
“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.”
Trump and his allies have repeatedly slammed Powell over the previous 12 months for not chopping rates of interest to the president’s liking. The Fed in the second half of final 12 months lowered charges three times in row, although officers have not too long ago mentioned they’re unlikely to decrease charges once more for some time.
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