Powell refuses to comply with criminal subpoena threat,坚持 the Federal Reserve's stance on independent decision-making

SmartContractPhobia · 2026-01-21T19:06:16+00:00

Federal Reserve Chairman Powell recently received a criminal subpoena from the U.S. Department of Justice, unrelated to his Senate testimony. He emphasized that this is a form of political pressure and firmly stated that the Federal Reserve will continue to formulate policies based on objective data to maintain independence. Powell pointed out that this incident reflects ongoing government pressure on the Federal Reserve and stressed the importance of central bank independence.

SmartContractPhobia

2026-01-21 19:06:16

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Federal Reserve Chair Jerome Powell has recently faced a new wave of pressure from the U.S. Department of Justice. According to media reports, the DOJ has issued criminal charges against him, citing his testimony before the Senate last June as the basis for the allegations. The criminal subpoena pertains to years of details regarding Powell’s personal building renovation project, and the grand jury subpoena was officially served last Friday.

The True Purpose Behind the Department of Justice’s Allegations

In response, Powell candidly pointed out that the criminal subpoena has no relation to his Senate testimony or the renovation project, and is essentially a political statement. He emphasized that the real issue is not the legal process itself, but that this action attempts to influence the Federal Reserve’s policy decisions.

Powell’s Firm Stance on the Criminal Subpoena

Faced with the allegations from the criminal subpoena, Powell expressed a clear stance. He pledged that the Federal Reserve will continue to set interest rate policies based on objective evidence and economic data, neither succumbing to political pressure nor changing its principles due to intimidation. This statement highlights the central bank chairman’s resolve and confidence under significant pressure, and also underscores the importance of maintaining the Fed’s independence.

The Dilemma of Central Bank Independence Under Political Interference

Powell specifically emphasized that while he deeply respects the rule of law, this action is unprecedented in history and should be seen as a continuation of the current government’s ongoing pressure on the Federal Reserve. His remarks imply that the criminal subpoena is not an isolated incident but part of a broader political interference strategy. Whether the Fed can maintain its decision-making independence under political pressure has become a central issue in current financial policy discussions.

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