Powell Says Criminal Probe Tied to Fed Rate Decisions Based on Economic Data, Not Politics

Federal Reserve Chair Jerome Powell said on Jan. 12 that a criminal investigation he faces relates to the Fed's interest rate decisions being grounded in economic assessment rather than political preferences, BlockBeats reports. He stated the central issue is whether future Fed rate decisions will remain evidence-based or yield to political pressure. Powell said he has carried out his duties impartially and will continue to do so, adding that while he respects legal authority, criminal charges against a Fed chair are unprecedented and signal what he views as a broader threat from the current U.S. administration to the Federal Reserve.