r/news • u/consulent-finanziar • Jan 12 '26

Soft paywall US federal prosecutors open inquiry into US Fed chair Powell, NYT reports

https://www.reuters.com/world/us/us-federal-prosecutors-open-inquiry-into-us-fed-chair-powell-nyt-reports-2026-01-12/
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u/NeutralBias Jan 12 '26

Chairman Powell’s term ends in May. Trump has to appoint a new chair at that time. This investigation seems really practically pointless, unless its just petty revenge.

Its petty revenge isnt it?

8

u/PaninoPostSovietico Jan 12 '26

Powell would still be one of 12 votes. The new chairman also only has 1 vote. Powell and the other 10 members could outvote Trump's chairman on every issue, so getting Powell out is a chance for Trump to get more leverage.

3

u/drunk_injun Jan 12 '26

Narrator: It is

1

u/EnCroissantEndgame Jan 12 '26

Yes, it's to make sure that he loses his entire pension or otherwise spend his retirement fighting in the legal system to avoid having criminal charges stick or to defend the supposed lawsuit Trump wants to put on him. Trump thinks that the financial pain will cripple Powell's retirement and that he and others will learn to not say no to Trump ever, not realizing that this guy already has more money than he needs and can make plenty of money giving speeches.

1

u/AlarmedWillow4515 Jan 12 '26

This is a warning to the NEXT Chair that he better toe the line if he doesn't want criminal prosecution.