Powell’s rare video response allowed him to take control of the narrative — and shows he’s willing to make a stand on certain issues.
Jerome Powell broke his silence on Sunday — this time on camera.
In a rare move, the Federal Reserve Chair released a video message after he said the central bank had received grand jury subpoenas that could lead to a criminal indictment.
Powell said the subpoenas related to his June testimony about renovation projects at the Fed’s offices, and Trump’s administration used the move as pressure to lower interest rates.
Former Fed chairs and several business leaders have responded critically to the news, and Trump has denied knowledge of the DOJ investigation. For Powell, who rarely reacts to Trump, the public response — and the video format itself — sent a signal.DOJ probes Fed
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Watch the 2-minute address Jerome Powell gave after the Fed received grand jury subpoenas
Powell has typically avoided responding publicly to Trump’s attacks, reinforcing the image of the Fed’s independence. Opting to make a video statement was a way to project calm, while signaling the stakes of the situation, said communications and leadership experts.
