Trump Weaponizes DOJ Against Fed Chair Powell: Hold Him Accountable

On January 10, the Justice Department served Federal Reserve Chair Jerome Powell with grand jury subpoenas threatening criminal indictment over his Senate testimony about building renovations. Powell’s response was blunt: “The threat of criminal charges is a consequence of the Federal Reserve setting interest rates based on our best assessment of what will serve the public, rather than following the preferences of the President.” Trump has spent months attacking Powell for not lowering rates faster, tried to remove Fed Governor Lisa Cook over what her attorneys call “unsubstantiated allegations,” and told the New York Times he’s already picked Powell’s replacement. Now he’s using the Justice Department to threaten criminal prosecution. Republican Senator Thom Tillis called it an attack on Fed independence and vowed to oppose all Fed nominees until it’s resolved. Democrat Elizabeth Warren called it a “corrupt takeover.” The independence of the Federal Reserve isn’t a partisan issue. It’s what prevents presidents from manipulating interest rates for political gain and crashing the economy. This is a pattern. Trump uses the Justice Department as his personal enforcement arm against anyone who disagrees with him. In October, he publicly demanded Attorney General Bondi prosecute James Comey, Adam Schiff, and Letitia James. She did. A federal judge threw out those indictments in November, ruling the prosecutor was unlawfully appointed. Now it’s Powell. Tomorrow it could be any agency head, any official, any American who doesn’t fall in line. Congress has a constitutional duty to check presidential abuse of power. Hold immediate oversight hearings on DOJ’s investigation of Powell. Subpoena Attorney General Bondi to testify under oath about White House interference in prosecutorial decisions. Pass legislation protecting Fed independence from political retaliation. This isn’t about defending Powell or any individual. This is about whether we’re a nation of laws or a nation where the president weaponizes federal law enforcement against critics.