Federal Reserve Chair Jerome Powell said the central bank was served grand jury subpoenas from the Justice Department threatening a criminal indictment related to Powell’s testimony on ongoing renovations of the Fed’s headquarters. He described the unprecedented move as a consequence of the Fed not lowering interest rates as aggressively as the president wishes.
There was immediate bipartisan pushback, with Senator Thom Tillis, a key Republican on the Banking Committee who isn’t running for reelection, vowing to oppose any Trump nominees to the Fed until the matter is resolved. Federal Housing Finance Agency Director Bill Pulte was said to be the instigator behind the subpoenas, while Donald Trump denied to NBC any knowledge of the DOJ investigation.
Protests in Iran intensified and at least 544 people have died and more than 10,000 arrested. Tehran warned the US and Israel against any intervention, while Trump said the US is monitoring and “looking at some very strong options.” US commanders have briefed the president on options for military strikes, according to an official.
In Europe, a group of countries led by the UK and Germany is discussing plans for a military presence in Greenland to both appease Trump and show the continent is committed to Arctic security, people familiar said. Diplomats from Denmark and Greenland will meet US Secretary of State Marco Rubio on Wednesday, TV2 reported.
