Congressional and legal fallout

Jerome Powell is the latest target of President Donald Trump’s Justice Department. The Federal Reserve chair confirmed that DOJ has opened a criminal investigation into his statements to Congress regarding Fed HQ renovations, marking the latest and sharpest escalation of Trump’s monthslong crusade against Powell. Though Trump denied having knowledge of the investigation, he has long pushed Powell to cut interest rates. Playbook’s Jack Blanchard and White House Bureau Chief Dasha Burns discuss the ramifications of the inquiry into Powell.