Is Jay Powell Headed for a Perp Walk? The Fed Under Political Fire

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Is Jay Powell gonna do a perp walk? Yeah. Prosecutors investigating Federal Reserve Chair Jerome Powell. This is over his testimony this past summer about the bank’s building renovation project. The Fed received grand jury subpoenas from the Justice Department on Friday that threaten a criminal indictment.

Powell, again, he doesn’t really, mean, Trump has been coming after him. mean, he’s gone after everything about Jay. I mean, I don’t know, he’s probably going after Jay Powell’s mother. He’s gone after him to such a degree. He called, he actually put out a video. Powell hasn’t pushed back at all. He did. He did last night. He called the investigation a pretext.

as part of President Trump’s ongoing campaign to pressure the Fed to lower interest rates and end the independence of the central bank. 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. This is,

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Pretty aggressive Trump administration to move the central bank to his, well again, it’s midterm year. Trump had already said he was thinking about suing Powell for gross incompetence. Do also recall they’re trying to also get Lisa Cook removed.

It was funny. Yeah, a lot of the MAGA people, you know, upset with me because I said, you know, they talked about Lisa Cook and her applications and where there were some things that were off. I’m like, you do know that. Yeah, Trump did the same thing, and then they found all sorts of other people, the administration, you know, overstating value, whatever it may be, not neither here nor there. I don’t know.

Trump said he didn’t know about the subpoenas and that any criminal investigation wouldn’t be related to disagreements the White House has had with Powell over interest rates. He said, I wouldn’t even think of doing it that way. What pressure him is the fact that rates are far too high. That’s the only pressure he’s got. The rates are not fricking too high based upon where inflation is.

Again, I don’t know how to say this, because again, I still get it from people out there. Every single time the feds lowered rates, mortgage rates have gone the inverse. They’ve gone up. Short-term lending rates have nothing to do with mortgage rates. That’s the tenure. Powell said that criminal prosecution wouldn’t affect his ability to continue serving as fed chair.

He’s his term is done on May 15th. I said public service sometimes requires standing firm in the face of threats. I will continue to do the job. The Senate confirmed me to do with integrity and a commitment to serving the American people. You know, how about you?

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I didn’t vote for this. I voted to go after the Fauci’s of the world, the pedophiles, the world. Any arrests there? Anybody, I mean, you hear anything of them going after anybody involved with all of those shenanigans? no, got Janine Pirro now. She’s behind this. She’s the one that’s gonna be going after him.

Last week on the program, talked about Trump’s mentor, Roy Cohen.

and talking about never ever ever admit that you’re wrong ever ever. That’s one of Roy Cohen’s teachable, teachable, you know, part of his the world according to Roy Cohen also always declare victory no matter what. Even if you lost, you declare victory. To go along with this, Roy Cohen also said use the legal system as a weapon.

not a recourse for justice.

Watchdog on wallstreet.com.