One of the most-unbelievable moments this year (and there have been many already) was a Sunday-night video from Fed Chairman Jerome Powell where he fought back after he was handed a subpoena due to cost overruns in Fed renovations.
It was a clear politicization of the Fed and meant to pressure Powell to lower rates, resign or not stay on as a Governor.
A Federal judge killed the subpoena and hopefully that’s the end of it.
“There is abundant evidence that the subpoenas’ dominant (if not sole) purpose is to harass and pressure Powell either to yield to the President or to resign and make way for a Fed Chair who will” and no evidence to the contrary.
