Andrew Ross Sorkin on Trump vs. the Fed - Amanpour and Company PBS

[Rhiannon12866]

On January 9th the U.S. Department of Justice launched a rare criminal investigation into Federal Reserve Chair Jerome Powell, issuing grand-jury subpoenas that threaten potential charges tied to his congressional testimony last June about the Fed's $2.5 billion renovation. On Capitol Hill, the move has sparked outrage on both sides of the aisle. Powell has rebuked the move, saying it is politically motivated.

As Trump doubles down on his demand that Powell lower interest rates, the independence of the Fed is being tested against the president's executive power. Andrew Ross Sorkin is a columnist for The New York Times and the author of "1929." He joins Walter Isaacson from New York to break down the political and economic implications of this investigation. - Originally aired on January 15, 2025.