US President Donald Trump is bringing criminal charges against the head of the Fed in what many see as a political move motivated by a desire for lower interest rates.
The US Department of Justice, at the direction of President Donald Trump, has opened a criminal investigation into Federal Reserve Chairman Jerome Powell.
The DOJ alleges that the chair has misallocated funds in the course of renovations of Federal Reserve office buildings, a claim that Powell has denied.
The Fed chair said that the charges were politically motivated and “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.”
