Is Jay Powell Headed for a Perp Walk? The Fed Under Political Fire

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Are prosecutors really coming after the Federal Reserve Chair—or is this something else entirely? Reports that the Justice Department is investigating Jerome Powell over testimony related to the Fed’s building renovation have ignited speculation, outrage, and a very real debate about central bank independence.
In this episode, Chris breaks down what’s actually happening, why grand jury subpoenas matter, and how this investigation fits into a broader campaign of political pressure on the Fed. With interest rates at the center of a heated midterm-year fight, Powell says the probe is a pretext designed to intimidate the central bank into lowering rates—despite inflation realities saying otherwise.
Chris also unpacks the misconceptions about interest rates, why mortgage rates don’t move the way people think they do, and why using the legal system as a political weapon sets a dangerous precedent. If this is about accountability, where are the prosecutions everyone was promised elsewhere? And if it’s about pressure, what does that mean for the future of independent monetary policy?
This isn’t just about Jay Powell—it’s about whether evidence-based policy survives political intimidation.