It was announced overnight that the Trump administrtion has opened a criminal investigation into Federal Reserve Chair Jay Powell with whom President Trump has been a constant critic of his economic policies – refusing to lower interest rates as Imperial Trump wants.  This is another chapter in the long-expected and unwanted battle between Imperial Trump and “independent” federal agencies.

The criminal investigation is focused on charges that Chairman Powell lied to Congress about renovations of Federal Reserve office buildings in DC.  But the real issue is the ability of the central bank’s ability to resist White House coerction on monetary policy.

According to some legal experts this is an effort to intimidate and punish Chairman Powell for failing to “bend the knee” to the Imperial President.  Republicans have remained largely quiet – that is except for Senator Lisa Murkowski, of Alaska.  She said that if DOJ wants to investigate Chair Powell, then DOJ should be investigated.  So far Maine’s Republican Senator Susan Collins (R) has remained silent.