The decision by the administration of U.S. President Donald Trump to open a criminal investigation into Federal Reserve Chair Jerome Powell drew condemnation from former chiefs of the central bank and a chorus of criticism from key members of Trump¡¯s Republican Party on Monday.
The development follows an unusually sharp public rebuke from Powell calling the move a ¡°pretext¡± to win presidential influence over interest rates.
The investigation, revealed late on Sunday when Powell said the Fed had received subpoenas from the U.S. Justice Department, was approved and started by Jeanine Pirro, the U.S. Attorney in Washington and an ally of the president, according to two sources with knowledge of the investigation.
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