Former officials say DOJ probe threatens Fed independence, has 'no place in the United States'

A coterie of former Federal Reserve chairs, Treasury secretaries, and prominent economists spoke out Monday in support of Fed Chair Jerome Powell and expressed alarm over the Justice Department's threat of a criminal prosecution at the central bank. “The reported criminal inquiry into Federal Reserve Chair Jay Powell is an unprecedented attempt to use prosecutorial attacks to undermine [the Fed's] independence,” said the statement signed by former Fed Chairs Janet Yellen, Ben Bernanke, and Alan Greenspan, ...