Trump Praises Officials for "Courage" in Investigating Fed Chair, Calls Powell an "Idiot"

On March 27, Trump offered his strongest defense to date of a Justice Department criminal investigation into Federal Reserve Chair Jerome Powell, calling the officials who initiated the probe “courageous.” Trump lauded Attorney General Pam Bondi and U.S. Attorney for the District of Columbia Jeanine Pirro, praising them for launching an investigation this year into Powell’s handling of a $2.5 billion renovation project at the Federal Reserve headquarters. “I want to thank Jeanine Pirro, and Pam and her team, for having the courage to bring this lawsuit,” he said during a cabinet meeting on Thursday. Trump’s remarks come after a federal judge halted a subpoena issued by Pirro’s office. The judge wrote in an opinion earlier this month that prosecutors were using the investigation to force Powell to “capitulate” to the president’s repeated demands for lower borrowing costs. Trump labeled Powell an “idiot” on Thursday, criticizing him for not lowering interest rates despite concerns that the war in Iran could trigger a new wave of inflation.