Instead of Focusing on Affordability, Trump Threatens to Sue Fed Chair Jay Powell

WASHINGTON, DC – Today, after President Donald Trump threatened to sue former Federal Reserve Chair Jay Powell and claimed he should be forced off the central bank’s board even after an independent watchdog investigation into a $2.5 billion Fed headquarters renovation project found no evidence of criminal wrongdoing, U.S. Senator Jack Reed (D-RI), a leading member of the Senate Banking, Housing, and Urban Affairs Committee, issued the following statement: “Instead of focusing on affordability and lowering prices, President Trump continues baseless attacks on Jay Powell and the Fed’s independence. “Donald Trump’s chaotic, price-raising tariffs, trade wars, and reckless Iran war are taking a heavy toll on the U.S. economy and imposing real financial hardships on working Americans. “Americans are paying a steep price for President Trump’s economic mismanagement. Every time they go to the grocery store, doctor’s office, or fill up their gas tank they are forced to pay higher prices in the form of a a de facto ‘Trump tax.’ “President Trump should stop threatening Jay Powell and the Fed’s independence and start taking responsibility for his own actions.”