All articles tagged with #doj subpoenas
Senate Republicans rally to Fed Chair Jerome Powell amid DOJ subpoenas tied to a $2.5 billion renovation, stressing Powell’s long history with Congress and his insistence that the Fed remain independent from political pressure.
After the DOJ subpoenaed Fed Chair Jerome Powell over his testimony on Fed building renovations, Powell quickly pushed back in a 285‑word statement and a video, arguing the probe is a pretext aimed at pressuring the Fed to lower rates; privately, he pressed key senators—most notably Sen. Thom Tillis—to rally GOP opposition to any Fed nominee until the matter is resolved, generating bipartisan support and complicating attempts to undermine Fed independence.
Neel Kashkari, president of the Federal Reserve Bank of Minneapolis, defended Fed independence and Jerome Powell amid a Justice Department investigation and grand jury subpoenas, arguing that the Trump administration’s pressure on the Fed has been framed as a monetary-policy issue. He reiterated that policy decisions should be driven by the Fed’s mandate and said rates should be held steady this month.
Gold jumped about to $4,599 per ounce and silver to $84.60 per ounce, both records, after Fed Chair Powell warned that DOJ subpoenas attempting to probe his Senate testimony are political pressure on monetary policy. He argued the Fed must set rates based on evidence and conditions, not politics, sending the U.S. dollar lower by roughly 0.4% as investors sought safe havens.
The U.S. Department of Justice has issued over 20 subpoenas to doctors and clinics involved in transgender medical procedures for minors, amid ongoing political and legal debates over the safety and ethics of such treatments, with the FTC also scrutinizing gender-affirming care through a controversial workshop.