The Justice Department’s probe into whether Jerome H. Powell, the chair of the Federal Reserve, lied about renovations to the central bank’s headquarters has raised alarms.
The Justice Department’s decision to open up a criminal investigation of Jerome H. Powell, the chair of the Federal Reserve, is a major escalation in the pressure campaign against the central bank to cut interest rates.
The investigation, which is said to center on renovations of the Federal Reserve’s headquarters in Washington, signals an escalation in the long-running clash between President Trump and the chair.
President Trump, left, and the Federal Reserve chair, Jerome Powell, right, touring the renovation site at the central bank’s headquarters in Washington in July.
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