Economy

Former Fed chairs condemn criminal investigation into Jerome Powell

January 12, 2026

Former Federal Reserve chairs, including Janet Yellen, Ben Bernanke, and Alan Greenspan, have condemned a criminal investigation into Fed Chair Jerome Powell, arguing it threatens the Fed's independence. In a statement, they emphasized that such actions have historically led to negative economic consequences and should not occur in the United States.

A man and a women wearing suits sit in front of microphones

Credit: Co

Key Highlights

Former Fed chairs Yellen, Bernanke, and Greenspan signed a statement against the investigation of Jerome Powell.
They argue the investigation undermines the Federal Reserve's independence.
The statement warns that similar actions in other countries have led to negative economic impacts.
Thirteen former officials participated in the condemnation of the investigation.
The investigation has been described as an 'unprecedented' assault on the Fed's independence.

Business Trump administration US news US economy Federal Reserve Jerome Powell

Sources

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Former Fed chairs condemn criminal investigation into Jerome Powell

Key Highlights

Sources

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