'Incompetent' or 'crooked'
CNBC • • business
Key Points:
- President Donald Trump criticized Federal Reserve Chair Jerome Powell as either "incompetent" or "crooked," referencing cost overruns on the Fed's Washington headquarters renovation amid a DOJ criminal investigation into Powell.
- Bipartisan opposition to the DOJ probe is growing, with figures like JPMorgan CEO Jamie Dimon and Republican lawmakers warning that the investigation threatens the Fed's independence and could lead to higher inflation and interest rates.
- Treasury Secretary Scott Bessent expressed concerns that the DOJ investigation might complicate plans to confirm the next Fed chair after Powell's term ends in May.
- U.S. Attorney Jeanine Pirro defended the legal actions, stating the Fed ignored multiple requests to discuss cost overruns, necessitating subpoenas and emphasizing that no one is
