Former New York Fed President Bill Dudley reacts to the Justice Department’s criminal subpoena of Fed Chair Jerome Powell, and discusses Powell’s public response. Dudley explains how the Trump Administration’s pressure on the Fed to lower interest rates is ‘counterproductive,’ and addresses concerns about damaging the Fed’s credibility. He says that although President Donald Trump views interest rates like a real estate developer, lower rates aren’t always good for American consumers. (Source: Bloomberg)