Trump's DOJ Opens Criminal Investigation into the Federal Reserve | Outtake

If it feels like ALL hell is breaking loose…it’s because IT IS! Trump’s DOJ now has the Federal Reserve Chairman, Jerome Powell, under criminal investigation.

You may be asking what does this have to do with me and why should I care… this is another test for the Administration, a test of their ability to go after their political enemies. This is about the Fed setting the interest rate on market indicators and not wherever Trump wants it.

And by the way, The Fed cut interest rates THREE TIMES last year.

This episode is an outtake from Angela Rye's Instagram @angelarye 

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Episode Transcript

Speaker 1 (00:00):
We've learned from Federal Reserve Chairman Jerome Powell that he
is under a criminal probe, facing potential indictment for god
only knows what, because Donald Trump wants the interest rates lower.
They are claiming that this is about how much a
Federal Reserve rebuild costs. Donald Trump believe it costs too much.

(00:22):
But so now the Department of Injustice, y'all's taxpayer dollars
are going to investigate the Federal Reserve chairman. This man
has served under four four presidential administrations. Let's just know
what he says.

Speaker 2 (00:36):
Well, good evening. On Friday, the Department of Justice served
the Federal Reserve with grand jury subpoenas threatening a criminal
indictment related to my testimony before the Senate Banking Committee
last June. That testimony concerned, in part, a multi year
project to renovate historic Federal Reserve office buildings. I have

(00:59):
deeper for the rule of law and for accountability in
our democracy. No one, certainly not the chair of the
Federal Reserve, is above the law. But this unprecedented action
should be seen in the broader context of the administration's
threats and ongoing pressure. This new threat is not about
my testimony last June, or about the renovation of the

(01:21):
Federal Reserve buildings. It is not about Congress's oversight rule.
The Fed, through testimony and other public disclosures, made every
effort to keep Congress informed about the renovation project. Those
are pretexts. The threat of criminal charges is a consequence
of the Federal Reserve setting interest rates based on our

(01:41):
best assessment of what will serve the public, rather than
following the preferences of the President. This is about whether
the Fed will be able to continue to set interest
rates based on evidence and economic conditions, or whether instead
monetary policy will be directed by political pressure or intimidation.
I have served at the Federal Reserve under four administrations,

(02:04):
Republicans and Democrats alike. In every case, I have carried
out my duties without political fear or favor, focused solely
on our mandate of price stability and maximum employment. Public
service sometimes requires standing firm in the face of threats.
I will continue to do the job the Senate confirmed

(02:25):
me to do with integrity and a commitment to serving
the American people.

Speaker 1 (02:30):
Thank you now. This, of course, is not the first
attempt of Donald Trump to interfere with anyone at the
Federal Reserve. As we know, he initially went after Lisa Cook,
who was also a Federal Reserve governor, for alleged mortgage
fraud and attempted to fire her after being Senate confirmed.
As is Jerome Powell, Senate confirmed, the Supreme Court will

(02:53):
hear that case later this month on January twenty first,
to test Donald Trump's authority to fire some one without
cause from the Federal Reserve Board. So we have to
be our own justice watch because we see that the
Department of Justice is certainly not pursuing justice. Native Lampard
is a production of iHeartRadio in partnership with Reason Choice Media.

(03:16):
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