Politis

Fed Chair Warns of 'Intimidation' After Subpoena for Criminal Indictment - 'He's Not Very Good,' Says Trump

Published January 12, 2026, 16:18
Fed Chair Warns of 'Intimidation' After Subpoena for Criminal Indictment - 'He's Not Very Good,' Says Trump

Federal Reserve Chairman Jerome Powell has denounced “threats and pressures” from the Trump administration, as the Federal Reserve is the target of an investigation for a possible criminal indictment. The investigation was launched following a subpoena to the Fed regarding a deposition by Powell to the Senate. Powell dismissed the subpoena as “pretext,” emphasizing that the Fed sets interest rates based on economic data and not political preferences. He warned that the Fed’s independence is vital to the global economy and that political intervention could lead to destabilization. Trump, for his part, said he was unaware of the investigation, but criticized Powell for managing the Fed and renovating buildings. Economist Atakan Bakiskan warned that political pressure on the Fed could discourage foreign investors.