Trump started "acting up" by having the Department of Justice serve a subpoena on the Federal Reserve, and the Federal Reserve Chair accused Trump of trying to control the Fed
The Federal Reserve System (FRS) received a subpoena from the Department of Justice related to criminal cases involving reports from the Federal Reserve Chair Jerome Powell.
The Trump administration believes that the Federal Reserve did not "consider actual market conditions" when setting interest rates, and also misused funds during office renovations.
Federal Reserve Chair Powell spoke to the media:
"The threat of criminal charges is the result of the Federal Reserve setting interest rates based on our best estimate of public service rather than the President's preferences."
"This relates to my testimony in June before the U.S. Senate regarding the renovation of the Federal Reserve's office building. In fact, they are interested in gaining control over the Federal Reserve, and all these statements about repair funds are just excuses."
"The issue today is whether the Federal Reserve can continue to set interest rates based on data and economic conditions, or whether monetary policy will be driven by political pressure or intimidation."
Before taking office, Trump had demanded lower interest rates and frequently criticized Powell and other senior officials at the Federal Reserve. As the affordability crisis hit consumers, the government increased its criticism. Federal Reserve Chair Jerome Powell has repeatedly emphasized that former President Trump tried to control the Federal Reserve.
Original: toutiao.com/article/1854091937343500/
Statement: This article represents the views of the author alone.