Rep. Subramanyam Statement After DOJ Launches Criminal Investigation into Federal Reserve Chair Powell

WASHINGTON, DC – U.S. Representative Suhas Subramanyam (VA-10) released the following statement after the Department of Justice announced a new criminal investigation into Federal Reserve Chair Jerome Powell:

“This sham investigation of Jerome Powell is part of a larger pattern of this administration coercing and intimidating regulators for the president's benefit. In this case, he could wreck our economy and monetary policy for the foreseeable future. The Federal Reserve's independence is what has historically kept us out of terrible depressions. We don't want to see any more of the economic hardship this administration has brought on the American people.”