The gloves are officially off between President Donald Trump and Federal Reserve Chairman Jerome Powell, with the Department of Justice now serving criminal grand jury subpoenas against the Fed chief who has kept interest rates artificially high while spending billions on lavish building renovations.
According to reports from Next News Network's investigation, the DOJ attempted to contact the Federal Reserve multiple times starting in December, only to be stonewalled for over ten days. When prosecutors requested meetings, Powell's office gave them nothing but silence. So the DOJ did what any competent law enforcement agency would do—they issued legal process demanding answers.
Powell's response? Instead of picking up the phone like a professional, he released a desperate two-minute video claiming he's being "threatened" and hiding behind so-called Fed "independence" as if that makes him above the law. What is he so afraid of?
Trump Calls Out Powell's Corruption
President Trump didn't mince words, calling Powell either "corrupt or incompetent" while promising that interest rates will plummet as soon as he replaces the Fed chairman. This isn't empty rhetoric, folks—this is economic policy from a president who built his career on delivering results for the American people.
While working families struggle with crushing mortgage rates and credit card debt, Powell has overseen billions in wasteful Fed spending on building renovations. Speaker Mike Johnson confirmed a new Fed chairman is coming in May, stating that "no one is immune from scrutiny" if they lied to Congress.
Peter Navarro explained that Trump is fighting on multiple fronts against credit card companies charging "mafia level interest rates" and institutional investors crowding Americans out of the housing market. This is about who controls America's economic destiny—your mortgage rates, your savings account, your retirement fund.
The Federal Reserve has operated as an untouchable deep state institution for over a century. President Trump is about to change that forever, and the establishment is panicking. When Trump says your mortgage is about to get cheaper, he means it. The question is: what else is Powell hiding that he's so desperate to avoid congressional questioning?