Investigation of Fed chief Jerome Powell: What Trump has said about him
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A Justice Department investigation into Federal Reserve Chair Jerome Powell is underway, reportedly approved in November. The investigation focuses on Powell allegedly misleading Congress about the $2.5 billion renovation of the Federal Reserve headquarters, a project approved during Trump's first term that is now $600 million over budget. While President Trump claims to know nothing about the specifics, he has publicly expressed his desire to remove Powell, criticizing his approach to lowering interest rates. This investigation escalates the tension between Trump and Powell, threatening the Fed's independence and potentially impacting confidence in the US economy. The Fed's next interest rates review meeting is scheduled for January 27-28.
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