The White House assured this Monday that US President Donald Trump has not given any order to investigate the president of the Federal Reserve, Jerome Powell, for alleged irregularities in the renovation of the entity’s headquarters in Washington.
When asked about the possibility that Trump ordered Justice Department officials to open investigations against Powell, White House spokeswoman Karoline Leavitt responded with a categorical “no.”
Last Friday, Powell reported being a victim of “intimidation” by Trump and his government, who have harshly criticized him for not lowering interest rates further, after the Department of Justice served a subpoena and threatened criminal charges related to his testimony last June before the Senate in relation to the aforementioned reforms.
“The president has every right to criticize the chairman of the Federal Reserve. He has the right to free speech, as do all of you. And one thing is certain: the president has made it very clear that Jerome Powell is not competent in his job. As to whether Jerome Powell is a criminal or not, that is a question for the Department of Justice,” Leavitt concluded today.
Don’t miss: Latest three former Fed chairs condemn Trump’s ‘unprecedented’ attack on Powell
Trump is expected to announce this month a successor to Powell, who is due to leave office in May, but his comments about who will be the new Fed chair raise concerns about the agency’s future independence in monetary policy.
“Anyone who disagrees with me will never be president of the Fed!” the real estate magnate has gone on to write, assuring that the US should have rates (currently in a range between 3.5% and 3.75%) three percentage points lower.
Among the leading candidates to replace Powell are his current economic advisor, Kevin Hasset, and former Fed Governor Kevin Warsh.
A group of former presidents of the Federal Reserve (Fed) and Treasury secretaries, and economic advisors of the United States expressed this Monday their support for the head of the central bank, Jerome Powell, and denounced the “attacks” of the US Attorney’s Office to undermine its independence.
In an open letter, the thirteen economic figures claim that the independence of the central bank and the public perception of it are key, and declare that the investigation announced against Powell “is an unprecedented attempt to use the attacks of the Prosecutor’s Office to undermine that independence.”
With information from EFE
Do you like photos and news? Follow us on our Instagram
