Donald Trump’s obsessive push to criminally prosecute Federal Reserve Chair Jerome Powell is collapsing from within his own party — and now even from inside his own administration. According to Politico’s Victoria Guida, while U.S. Attorney Jeanine Pirro continues her zealous pursuit of Powell at Trump’s insistence, a person close to the White House has privately acknowledged the uncomfortable truth: “My suspicion is, there was no wrongdoing. But there’s a principle here that’s bigger than Jay Powell. If you let them get away” with refusing to turn over information. Senate Republicans are openly rejecting the prosecution. Senate Majority Leader John Thune (R-SC) called out the DOJ’s fishing expedition directly: “It’s in everybody’s best interest to wrap up the investigation.” Multiple Senate Republicans, including Banking Chair Tim Scott (R-SC), have stated Powell did not appear to commit a crime based on his congressional testimony — which is supposedly the central point of the DOJ’s inquiry. The courts have already rejected the prosecution’s legal foundation. A federal judge ruled that the DOJ’s subpoenas to the Fed were a “mere pretext” to pressure the institution on interest rates and quashed them entirely. According to Politico’s assessment, “Trump seems to be trying to find a way to turn an easy win on the Fed into a long slog of a loss.”
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