Congressman Fields Issues Statement on Infringement of Powers by the Executive Branch against Federal Reserve Chair Jerome Powell

WASHINGTON, D.C. - Today, Congressman Cleo Fields released a statement regarding the infringement of powers by the Executive Branch against Federal Reserve Chairman Jerome Powell:

"Last Friday, the Department of Justice served Federal Reserve Chairman Jerome Powell with grand jury subpoenas, threatening a criminal indictment. I strongly oppose any effort by the Trump Administration to intimidate, threaten, or prosecute the Federal Reserve or its leadership for political purposes. The independence of the Federal Reserve is a cornerstone of our economic stability, and any attempt to undermine it puts American jobs, savings, and retirement security at risk.

No president, former or current, should use the power of politics to punish institutions or individuals simply because they disagree with policy decisions. That kind of behavior erodes the rule of law and shakes confidence in our democracy.

I strongly support the independence of the Federal Reserve and its leadership and will continue to fight back against the weaponization of the Department of Justice."

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