“The Trump administration’s decision to open a criminal investigation into Federal Reserve Chair Jay Powell has set off a political firestorm on Capitol Hill and across official Washington,” Punchbowl News reports.
“This is a long-feared and unwelcome chapter in the battle between President Donald Trump and ‘independent’ federal agencies.”
“Trump’s legal push will force Republicans to choose between maintaining the independence of the Fed — a key tenet for both parties — and a president who argues that high interest rates are hampering the U.S. economy.”
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