Steny H. Hoyer
01/12/2026 | Press release | Distributed by Public on 01/12/2026 12:25
Hoyer Statement on Political Prosecution of Federal Reserve Board Chair Jerome Powell
WASHINGTON, DC - Today, Congressman Steny H. Hoyer (MD-05), Ranking Member of the Financial Services and General Government (FSGG) Appropriations Subcommittee, released the following statement after reports that the United States Department of Justice (DOJ) opened a criminal investigation of Federal Reserve Board Chair Jerome H. Powell:
"With his latest threats to prosecute Federal Reserve Chairman Jerome Powell on sham charges, Donald Trump's politics of vindictiveness now threatens the entire American economy. The Fed is independent for a reason. Undermining the Fed's independence and ability to set rates based on data, rather than on the president's political whims, will only make it harder to fight inflation and support job growth.
"From his disastrous tariffs to his latest attacks on the Fed, Trump's meddling has sown doubt in our economy, stifling investment and growth. He inherited one of the greatest economies of any president and squandered it in less than year. Trump can try to scapegoat the Fed for our economy's woes, but the only person he has to blame is himself."
"With his latest threats to prosecute Federal Reserve Chairman Jerome Powell on sham charges, Donald Trump's politics of vindictiveness now threatens the entire American economy. The Fed is independent for a reason. Undermining the Fed's independence and ability to set rates based on data, rather than on the president's political whims, will only make it harder to fight inflation and support job growth.
"From his disastrous tariffs to his latest attacks on the Fed, Trump's meddling has sown doubt in our economy, stifling investment and growth. He inherited one of the greatest economies of any president and squandered it in less than year. Trump can try to scapegoat the Fed for our economy's woes, but the only person he has to blame is himself."
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