After months of stoicism, the Fed chair is taking a stand against Trump.
Jerome Powell isn’t known for his expressiveness. The chair of the Federal Reserve has kept quiet over the past year as President Trump has repeatedly attacked him—often with crude language (think moron, numbskull, dumb, and loser). That changed yesterday, when Powell announced that he is under criminal investigation by Trump’s Justice Department. In a video statement, he responded to the threat of indictment with remarkable clarity. “This unprecedented action should be seen in the broader context of the administration’s threats and ongoing pressure,” he said. “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.”
