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U.S. Attorney for the District of Columbia Jeanine Pirro blasted Federal Reserve Chairman Jerome Powell on Tuesday, saying “no one is above the law” amid criticism over a newly launched probe into the central bank.
“The chairman says, ‘You’re attacking the independence of the Federal Reserve.’ That’s not what we’re doing. We’re doing our job,” Pirro said during a “Hannity” appearance.
“I think the sad part about this is that no one is above the law, nor should anyone think that they have the right to be above the laws, and I’m curious to those who claim, ‘This is a terrible thing,’ even in our own party, what do you suggest? Are there certain people that you cannot investigate? Are there certain people that we look the other way and throw complaints in the drawer? That’s not the America that I grew up in.”
Federal prosecutors opened a probe focusing on whether Powell was truthful during congressional testimony about the project to overhaul the Fed’s two main buildings on the National Mall. No charges have been filed, and Powell has denied any wrongdoing.
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Pirro alleged there were $1 billion in cost overruns and raised concerns that Powell lied to Congress.
She said Monday that her office proceeded with the probe after failing to receive a response from Powell after multiple contact attempts, a point she reiterated on-air.
“I’m the United States attorney for the District of Columbia and, with that job, comes a responsibility to investigate and prosecute violations of federal crime in D.C., along with D.C. Code crime,” she said.
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“My request, in this case with the Federal Reserve, was a legal request, and the chairman of the Federal Reserve, Powell, chose not to give a legal response. Instead, he chose to politicize and publicize. I did not politicize or publicize any of this. I followed the federal rules. I investigate until I have evidence and if and when I do, then I go forward with a public statement.”
Powell addressed the investigation in a video statement Sunday evening, calling the move “unprecedented” and another example of what he described as the Trump administration’s ongoing efforts to intimidate the central bank.
“This new threat is not about my testimony last June or about the renovation of the Federal Reserve buildings. It is not about Congress’ oversight role. The Fed, through testimony and other public disclosures, made every effort to keep Congress informed about the renovation project,” he said.
“The threat of criminal charges is a consequence of the Federal Reserve setting interest rates based on our best assessment of what will serve the public, rather than serving the preferences of the president.”
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This comes as battle-tested Powell’s term is slated to end in May, with a Trump-friendly replacement believed to take his place.
The president has narrowed his shortlist to four candidates as he approaches a final decision on leadership at the Fed: Kevin Hassett, Kevin Warsh, Christopher Waller and Rick Rieder.
Fox News’ Amanda Macias contributed to this report.
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