Ex-Trump Attorney David Schoen on Federal Reserve Investigation

Investigation into Federal Reserve Chairman Powell

• 🔍 An investigation into Federal Reserve Chairman Jerome Powell is discussed, with panelists questioning why anyone would oppose such an inquiry.
• 💰 The core issue revolves around the Federal Reserve building renovation being significantly over budget, with potential implications for false claims.
• ⚠️ It is noted that the Fed's enormous power and influence might place it under a protective shield, making it difficult to scrutinize.
• 🏛️ The Federal Reserve itself was not created by the founders, unlike other government bodies, and has enormous power.

Presidential Frustration with Fed Policy

• 📉 President Trump has expressed strong dissatisfaction with Jerome Powell's handling of interest rates, believing they were too high and hindered economic growth.
• 💼 The administration views Fed policy as an obstacle to economic success, citing a strong stock market and lower gasoline prices under Trump's policies.
• 🚫 Attempts by President Trump to influence the Fed, including trying to remove a board member, have been unsuccessful and are heading to the Supreme Court.

Media Reaction and Investigation Scrutiny

• 📰 The timing of Powell's video release on a Sunday night was considered unusual, with the President reportedly unaware of it.
• 🗣️ There's a phenomenon of the media and others attacking investigations, which is seen as counterproductive to finding facts.
• ⚖️ The discussion draws parallels to scrutiny of other officials, like Leticia James, emphasizing the importance of investigating potential wrongdoing regardless of the individual.
• 📈 Despite market reactions, the panel suggests Powell's handling of interest rates, particularly last year, was abominable and potentially aimed at causing a recession.