Statement from Congresswoman Beatty on the Department of Justice Investigation into Chair Jerome Powell

WASHINGTON, D.C.- Today, Congresswoman Joyce Beatty (OH-03) released a statement on the Department of Justice Investigation into Federal Reserve Chair Jerome Powell:

"Chair Powell serves with dignity, honor, and integrity, and has done so throughout his tenure, remaining focused on the Fed's dual mandate of price stability and maximum employment.

It is increasingly clear that the weaponized Department of Justice criminal investigation is a political attack and yet another attempt by Donald Trump to undermine and seize control of the Federal Reserve, putting the stability of the economy and household finances at risk.

Over the last year, President Trump has demonstrated a disturbing pattern of politicizing the Fed, attempting to intimidate members of the Federal Open Market Committee into lowering interest rates, threatening to unlawfully remove Chair Jerome Powell, attempting to push out Fed Board Governor Lisa Cook, and appointing partisan individuals to the Board whose views on monetary policy align with his political agenda.

The strength of our economy depends on an independent Federal Reserve, and every American should be deeply alarmed by the Trump Administration's blatant politicization of our central bank and interest rate decisions-consequential decisions that must be driven by evidence, data, and economic reality, not partisan political pressure. This is guaranteed to negatively impact American households through inflation, the labor market, savings, and housing costs."

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