The Federal Reserve building renovations now under a DOJ probe in Washington
Conservative principles face implementation challenges as policy meets political complexity.
The coverage treats a DOJ probe into Fed renovations as inherently sinister, as if asking questions is the real offense. It also adopts Jerome Powell’s claim of “pretext” as settled fact, implying the only plausible motive is political leverage over rates. That framing skips a basic point: the Federal Reserve is powerful, insulated, and funded outside the normal appropriations process.
New Republican Times Editorial Board
The Trump administration's decision to open a criminal investigation into Fed Chair Jerome Powell drew condemnation from former Fed chiefs and a chorus of criticism from key members of Trump's Republican Party on Monday, following an unusually sharp public rebuke from Powell calling the move a "pretext" to win presidential influence over interest rates.
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New Republican Times Editorial Board
The coverage treats a DOJ probe into Fed renovations as inherently sinister, as if asking questions is the real offense. It also adopts Jerome Powell’s claim of “pretext” as settled fact, implying the only plausible motive is political leverage over rates.
That framing skips a basic point: the Federal Reserve is powerful, insulated, and funded outside the normal appropriations process. That makes public trust and accountability for taxpayer-adjacent spending nonnegotiable, not optional. If major renovations raise red flags, a sober review should not be taboo simply because it involves a central banker.
Conservatives can favor Fed independence and still insist on rule-of-law oversight. A criminal probe should meet a high evidentiary bar and avoid theatrics, but reflexive deference is not a governing principle.
The real test is whether institutions earn confidence through transparent stewardship, not whether critics stay quiet to protect reputations.
Commentary written with AI assistance by the New Republican Times Editorial Board.