Target: Thom Tillis, U.S. Senator
Goal: Continue blocking efforts to target and weaken Federal Reserve.
“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.” Federal Reserve Chair Jerome Powell pushed back with this assertion following a threat from the Department of Justice to subject him and the Central Bank that controls America’s money to criminal indictments. While the administration claims the probe is about renovated office buildings, critics see it – much like cases brought against other perceived opponents of the president – as a fishing expedition intended to punish Powell and bring the independent Central Bank under control of the president.
President Trump has long derided Powell for not lowering interest rates to the president’s liking, even though economists stress that changing rates in the absence of proper analytical input could worsen inflation and create further economic instability. If the administration succeeds in its seeming goal of installing a political puppet at the head of the Federal Reserve, the Fed would likely lose essential independence, and the country’s economic levers would be at the mercy of a select few. A few Republican allies have spoken against the potential indictments, despite threats and insults the president routinely hurls at any member of Congress who dares defy him.
Sign the petition below to encourage one such ally to make good on his pledge to prevent a presidential takeover of the Federal Reserve.
PETITION LETTER:
Dear Senator Tillis,
Gold investments have soared even further following the threat of criminal indictments leveled against the Central Bank and Federal Reserve Chair Jerome Powell. Such a development can be an ominous sign and a signal that Americans are seeking a reliable refuge from impending economic chaos. You seem aware of the chaos that would ensue if the Central Bank loses its critical independence, and you have announced a plan to block future Fed nominees in a direct response to this threat.
Your plan has drawn bipartisan support. Please stay the course and do not let any form of intimidation sway you from ensuring the Fed stays independent. Americans need assurance that their investments in the United States’ economic future are secure.
Sincerely,
[Your Name Here]
Photo Credit: Tima Miroshnichenko
