FOSTER STATEMENT ON TRUMP'S "INVESTIGATION" OF THE FEDERAL RESERVE

The following information was released by the office of Illinois Rep. Bill Foster:

Today, Congressman Bill Foster (D-IL), Ranking Member of the House Financial Services Subcommittee on Financial Institutions,issued the following statement:

"Withouta stable, responsible, and independent monetary policy, the United States risks losing the primacy of the U.S. dollar and becoming uninvestable.Trump's politically-driven 'investigation'of the Federal Reserve is a deliberateassault on that independence.

"There is no more important financial role of Congress than preserving the independenceof the Federal Reserve, and Democrats, at least, understand what is at stake and are willing to fight to preserve the integrity of the U.S. monetary system."

Federal Reserve Chair Jerome Powell was absolutely correct when he said:

"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."

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