CASTEN STATEMENT ON FED CHAIR JEROME POWELL

The following information was released by the office of Illinois Rep. Sean Casten:

U.S. Congressman Sean Casten (IL-06) released the following statement regarding Federal Reserve Chair Jerome Powell:

"President Trump's threat to criminally charge Jerome Powell must be considered with the utmost seriousnesssuch dangerous and escalating attacks can cause irreparable harm to the U.S. economy. This investigation should be seen as nothing other than an attempt to strip the Federal Reserve of its independence in order to serve the short-term and politically-motivated interests of the Trump Administration. This is what an authoritarian does. When their economic policies fail, they try to intimidate independent institutions, squash dissent, and manipulate facts to their advantage.

"Jerome Powell has always zealously defended the independence of the Federal Reserve because it is both vital to the stability of the United States' financial system and acts as a check against self-serving politicians. Any attempt to strip our central bank of its ability to independently set monetary policy will undoubtedly inflict pain on the American people."