ADVERTISEMENT
Simultaneously, a second front has opened regarding the autonomy of the American central bank. Judge Boasberg recently intervened to block a Department of Justice investigation into Federal Reserve Chair Jerome Powell, which was ostensibly focused on a construction project in Philadelphia. However, upon reviewing declassified internal memos and metadata, the court concluded that the probe was a pretext intended to harass and pressure Jerome Powell into lowering interest rates to satisfy political preferences. This finding has sent shockwaves through the financial hubs of Chicago and Los Angeles, as it suggests a weaponization of law enforcement to influence monetary policy. Powell has since announced he will remain in his post to shield the Federal Reserve from “unprecedented legal threats.”
ADVERTISEMENT