Former Kansas City Federal Reserve President Thomas Hoenig recently weighed in on the Department of Justice's subpoenas targeting the Fed, characterizing the situation as having shifted away from individual accountability. "As public attention intensifies, responsibility increasingly falls on the broader administration rather than specific individuals," Hoenig noted. On the DOJ's legal action specifically, he offered a blunt assessment: "For the most part, it's a road to nowhere." His commentary underscores growing skepticism about the effectiveness of this regulatory pressure, suggesting the effort may not yield substantial outcomes. The remarks highlight ongoing tensions between different branches of government over Fed oversight and monetary policy direction.
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Former Kansas City Federal Reserve President Thomas Hoenig recently weighed in on the Department of Justice's subpoenas targeting the Fed, characterizing the situation as having shifted away from individual accountability. "As public attention intensifies, responsibility increasingly falls on the broader administration rather than specific individuals," Hoenig noted. On the DOJ's legal action specifically, he offered a blunt assessment: "For the most part, it's a road to nowhere." His commentary underscores growing skepticism about the effectiveness of this regulatory pressure, suggesting the effort may not yield substantial outcomes. The remarks highlight ongoing tensions between different branches of government over Fed oversight and monetary policy direction.