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Federal Reserve Chair Jerome Powell has drawn all sorts of support after disclosing that the Trump administration's Department of Justice has threatened him with a criminal indictment over his testimony about building renovations.
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Trump allies fear that the inquiry into the Fed chair could complicate the process of replacing him this year.
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The defense comes after Jerome Powell pushed back on what he described as pressure by the Trump administration to cut interest rates in the United States.
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The Trump administration's criminal investigation of Federal Reserve Chair Jerome Powell appeared on Monday to be emboldening defenders of the U.S. central bank against the efforts of President Trump to control the Fed.
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There's more to the probe aimed at the Federal Reserve chair than meets the eye.
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The Justice Department's probe into whether Jerome H. Powell, the chair of the Federal Reserve, lied about renovations to the central bank's headquarters has raised alarms.
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A broader shift out of U.S. financial assets would revive last year's trend called the "sell America" trade.
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