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#GateProofOfReservesReport
Trump: I am not aware of any legal proceedings against the Fed 🇺🇸
⚖️ US President Donald Trump stated that he was not aware of the court summons initiated by the Department of Justice against the Federal Reserve. Criticizing Fed Chairman Jerome Powell’s performance and the institution’s building renovation projects, Trump said that the ongoing legal actions are not directly under his knowledge.
🏛 Fed Chairman Jerome Powell argued that the Department of Justice is threatening the central bank with a criminal case. Powell emphasized the independence of the institution, claiming that the real reason for the legal pressure is not building renovations but the Fed’s determination to set interest rates based on economic data rather than political preferences.
📉 Trump argued that the court summons have nothing to do with monetary policy or interest rate decisions. The President stated that the main pressure on Powell is not legal proceedings but the effects of high interest rates on the economy; he also said he does not consider the judicial mechanisms as a tool to lower interest rates.
Trump said he could sue Fed Chairman Powell