No. of Recommendations: 3
I'm being dead serious.
Powell didn't address the core allegations--that he in some way mismanaged the Fed renovation/construction project.
What he instead tried to do is deflect from that issue and strongly implied that the Fed is independent of any oversight by other branches of government as to its fiduciary responsibility in how it spends the taxpayers' money. That it is fundamentally wrong for the DOJ, or Congress, or anyone, to question the Fed's management of its budget.
That, of course, is clearly absurd.
It is unnerving and concerning because Powell could, and should, have addressed the issue directly:
"The Fed has done nothing whatsoever improper in its use of taxpayer funds in this construction project. I am confident that the DOJ's investigation will verify that 100% and in so doing will show that the Fed can be trusted with its public responsibilities and should remain fully independent from political influence."
