Every living former head of the Federal Reserve condemned an “unprecedented” attempt by the Trump administration to weaken the US central bank’s independence, after the Department of Justice opened a criminal investigation into its chair, Jerome Powell. Ex-Fed chairs Alan Greenspan, Ben Bernanke and Janet Yellen warned similar prosecutorial attacks in other countries had led to “highly negative consequences” for the cost of living – and argued they had “no place” in the US. Late on Sunday, it emerged that the justice department had served the Fed with grand jury subpoenas on Friday, threatening a criminal indictment related to Powell’s
US warns Americans to leave Iran now
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