The Fed Renovation Became a Pretext

The Trump administration’s decision to open a criminal investigation into the Federal Reserve chairman, Jerome H. Powell, has stunned the worlds of business and politics.

Colby Smith and Glenn Thrush, who have been covering the news, discuss how the investigation came about, the panic it unleashed and why it might have made the Fed chair stronger than ever.

Guest:

• Colby Smith, a New York Times reporter covering the Federal Reserve and the U.S. economy.
• Glenn Thrush, who reports on the Justice Department for The New York Times.

Background reading: 

• Blowback builds over the criminal investigation of Mr. Powell.
• Here’s what to know about the criminal investigation of Mr. Powell.

Photo: Caroline Gutman for The New York Times

For more information on today’s episode, visit nytimes.com/thedaily. Transcripts of each episode will be made available by the next workday. 

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