Probe Into Jerome Powell Backfires on Capitol Hill

“The Trump administration’s decision to open a criminal investigation into Federal Reserve Chair Jay Powell is backfiring,” Punchbowl News reports.

“GOP lawmakers and former Federal Reserve officials are rallying to show support for Powell and the Fed’s role as an independent regulator of the U.S. economy. And it’s not just rank-and-file Republicans coming to Powell’s defense.”

“House Financial Services Committee Chair French Hill (R-AR), whose panel oversees the Federal Reserve and Wall Street, said he believes that the criminal charges are ‘an unnecessary distraction’ when policy makers should be focused on ‘the nation’s economy.'”