Powell warns of ‘intimidation’ after criminal subpoenasAFP, WASHINGTONUS prosecutors have opened an inquiry threatening a “criminal indictment” against the US Federal Reserve, its chairman Jerome Powell said, denouncing new “threats and ongoing pressure” from the administration of US President Donald Trump. He dismissed the subpoenas as “pretexts” after months of bitter conflict with Trump, who has publicly excoriated the Fed for not cutting interest rates aggressively to bolster economic growth. US Federal Reserve Chairman Jerome Powell speaks during a news conference following a Federal Open Market Committee meeting in Washington on Dec. 10. The Fed, which makes independent monetary policy decisions, has a dual mandate to keep prices stable and unemployment low. The Fed’s independence from political influence is considered vital for investors, who worry that outside meddling in monetary policy would threaten a bedrock of the global economy.

Source: Taipei Times January 12, 2026 17:14 UTC