| Speaker | Time | Text |
|---|---|---|
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Federal Reserve Under Threat
00:03:42
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unidentified
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What to expect in the year ahead with Max Steyer, President and CEO of the Partnership for Public Service. | |
| C-SPAN's Washington Journal joined the conversation live at 7 Eastern this morning. | ||
| On C-SPAN, C-SPAN Now, our free mobile app or online at c-SPAN.org. | ||
| The U.S. Attorney Jerome Powell. | ||
| The New York Times reporting that it's over the renovation of the central bank's Washington headquarters. | ||
| Mr. Powell released a rare video message acknowledging the Justice Department had served the central bank with grand jury subpoenas days earlier. | ||
| He described the investigation as unprecedented. | ||
| Good evening. | ||
| On Friday, the Department of Justice served the Federal Reserve with grand jury subpoenas, threatening a criminal indictment related to my testimony before the Senate Banking Committee last June. | ||
| That testimony concerned, in part, a multi-year project to renovate historic Federal Reserve office buildings. | ||
| I have deep respect for the rule of law and for accountability in our democracy. | ||
| No one, certainly not the chair of the Federal Reserve, is above the law. | ||
| But this unprecedented action should be seen in the broader context of the administration's threats and ongoing pressure. | ||
| This new threat is not about my testimony last June or about the renovation of the Federal Reserve buildings. | ||
| It is not about Congress's oversight role. | ||
| The Fed, through testimony and other public disclosures, made every effort to keep Congress informed about the renovation project. | ||
| Those are pretexts. | ||
| The threat of criminal charges is a consequence of the Federal Reserve setting interest rates based on our best assessment of what will serve the public, rather than following the preferences of the president. | ||
| This is about whether the Fed will be able to continue to set interest rates based on evidence and economic conditions, or whether instead monetary policy will be directed by political pressure or intimidation. | ||
| I have served at the Federal Reserve under four administrations, Republicans and Democrats alike. | ||
| In every case, I have carried out my duties without political fear or favor, focused solely on our mandate of price stability and maximum employment. | ||
| Public service sometimes requires standing firm in the face of threats. | ||
| I will continue to do the job the Senate confirmed me to do with integrity and a commitment to serving the American people. | ||
| Thank you. | ||
|
unidentified
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C-SPAN's Washington Journal, our live forum, inviting you to discuss the latest issues in government, politics, and public policy from Washington, D.C. and across the country. | |
| Coming up this morning, we'll discuss President Trump's recent call to increase Defense Department spending to $1.5 trillion in 2027 with Todd Harrison of the American Enterprise Institute. | ||
| And then Time magazine politics reporter Nick Popley previews the week ahead at the White House and News of the Day. | ||
| Also, we'll look at new government data showing the extent of Trump administration cuts to the federal workforce in 2025 and what to expect in the year ahead with Max Steyer, President and CEO of the Partnership for Public Service. | ||
| C-SPAN's Washington Journal joined the conversation live at 7 Eastern this morning. | ||
| On C-SPAN, C-SPAN Now, our free mobile app or online at c-SPAN.org. | ||
|
Online Child Exploitation Bills
00:00:23
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unidentified
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The U.S. House returns later today at noon Eastern. | |
| Members will consider legislation to prevent government payments to dead people by ensuring that the Social Security Administration can permanently share important data with the Treasury Department's Do Not Pay system. | ||
| The House will also consider several bills to combat online child exploitation. | ||
| The Senate's also back today at 3 p.m. Eastern. | ||