Amara Omeokwe

Hey, Kai.

Hello, Kai.

Yeah, I mean, this was really a remarkable week for Fed coverage.

It started with that extraordinary video and statement from Chair Powell, really pushing back forcefully on this Department of Justice investigation that has been opened up into the Fed.

And it was just truly remarkable.

I think...

When Powell is asked about this question of Fed independence and all the pressure and attacks that he and the institution have faced from President Trump and his allies, he always kind of gives the same response.

We just stick to our job.

We're trying to do what's in the best interest of the American people.

So to see him really push back forcefully and say like,

This is a pretext.

Like this investigation is about the fact that the president wants us to do his bidding on monetary policy.

It was just it was really remarkable.

And then to also see some of the bipartisan pushback to see Republicans come out and say, you know, that this is inappropriate and really kind of criticize this investigation.

Really, we're starting to see a lot of things that we have not seen since President Trump returned to office when it comes to this question of Fed independence.

Oh, sure.

So this investigation of Chair Powell needs to be seen in the context of repeated efforts by Trump and his allies since basically he took office to get the Fed to lower interest rates by more.

And nothing else has worked yet.

Job owning the Fed hasn't worked.

Accusing trying to fire another governor over alleged misrepresentations.