The U.S. Department of Justice has launched a criminal investigation into Federal Reserve Chairman Jerome Powell.
In a video statement, Chair Powell said he is not above the law. But he also characterized the investigation as a politically motivated attempt to influence independent action of the Federal Reserve.
As the political feud plays out, we talked with macroeconomist Joe Santos for insight into the consequences for the future of monetary policy.
Joe Santos, Ph.D., is the Dykhouse Scholar in Money, Banking, and Regulation and director of the Ness School of Management at South Dakota State University.
He writes a companion piece for these Monday Macro conversations. Search @joesephsantos on the Substack platform.
