Senate Majority Leader John Thune said Monday that the Justice Department’s targeting of Federal Reserve Chair Jay Powell “better be real” and “better be serious,” raising concerns about “political interference” in monetary policy.
The South Dakota Republican was one of a growing list of Hill Republicans questioning — or openly slamming — the criminal investigation into Powell, which centers around the multi-billion dollar renovation of the Federal Reserve buildings downtown. Powell blames President Donald Trump for the inquiry, stating that this is all because the Fed won’t cut interest rates fast enough to suit the White House.
