Sen. Kevin Cramer Calls for Jerome Powell’s Resignation

Sen. Kevin Cramer (R-N.D.) suggested that Federal Reserve Chair Jerome Powell should resign to potentially avoid indictment amid a criminal investigation by the DOJ into Powell’s testimony regarding a $2.5 billion renovation of the Fed’s headquarters. U.S. Attorney Jeanine Pirro stated that the DOJ had previously tried to discuss cost overruns with the Fed but was ignored. Powell described the DOJ’s actions as unprecedented and politically motivated, asserting they stem from the Fed’s independence in setting interest rates. Cramer warned that an indictment could negatively impact the economy, emphasizing the need to focus on economic stability.

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