this is not good

Video Description

Jerome Powell's Statement: "On Friday, the Department of Justice served the Federal Reserve with grand jury subpoenas, threatening a criminal indictment related to my testimony before the Senate Banking Committee last June. That testimony concerned in part a multi-year project to renovate historic Federal Reserve office buildings. I have deep respect for the rule of law and for accountability in our democracy. No one—certainly not the chair of the Federal Reserve—is above the law. But this unprecedented action should be seen in the broader context of the administration's threats and ongoing pressure. This new threat is not about my testimony last June or about the renovation of the Federal Reserve buildings. It is not about Congress's oversight role; the Fed through testimony and other public disclosures made every effort to keep Congress informed about the renovation project. Those are pretexts. The threat of criminal charges is a consequence of the Federal Reserve setting interest rates based on our best assessment of what will serve the public, rather than following the preferences of the President. This is about whether the Fed will be able to continue to set interest rates based on evidence and economic conditions—or whether instead monetary policy will be directed by political pressure or intimidation. I have served at the Federal Reserve under four administrations, Republicans and Democrats alike. In every case, I have carried out my duties without political fear or favor, focused solely on our mandate of price stability and maximum employment. Public service sometimes requires standing firm in the face of threats. I will continue to do the job the Senate confirmed me to do, with integrity and a commitment to serving the American people." nyt confirms the reporting: https://www.nytimes.com/2026/01/11/us/politics/jerome-powell-fed-inquiry-trump.html trump denies knowledge: https://www.nbcnews.com/politics/donald-trump/trump-denies-involvement-doj-fed-subpoena-jerome-powell-rcna253526 support: https://www.patreon.com/coffeezilla disclaimer (updated May 2025): voidzilla is an opinion‑driven channel that comments on the news of the day under the satirical and rhetorically hyperbolic banner “CRIME IS LEGAL.” the phrase critiques what we see as a lax or uneven regulatory enforcement environment for fraud. unlike our affiliated channel Coffeezilla, which conducts detailed investigations and source‑document deep dives, and draws opinions from that, voidzilla offers rapid‑fire commentary and criticism on information already in the public domain. statements here reflect the host’s views at the moment of recording and may become outdated as facts evolve. references to “crime,” “fraud,” “scam,” or similar terms appear in a rhetorical hyperbolic context similar to “CRIME IS LEGAL.” unless we expressly state that a court has entered a final judgment, no segment should be read as a definitive finding of legal liability. viewers are urged to consult primary sources and form independent conclusions. production of this program is public‑interest commentary protected by the First Amendment and the Texas Citizens Participation Act (TCPA). anyone featured in this program who believes a material error has occured may contact our business email with supporting documentation under the SUBJECT: "CORRECTION REQUEST". we will promptly review substantiated notices and, where appropriate, issue corrections or updates.