Jerome Powell broke his silence on Sunday — this time on camera.
In a rare move, the Federal Reserve Chair released a video message after he said the central bank had received grand jury subpoenas that could lead to a criminal indictment.
Powell said the subpoenas related to his June testimony about renovation projects at the Fed’s offices, and Trump’s administration used the move as pressure to lower interest rates.
Former Fed chairs and several business leaders have responded critically to the news, and Trump has denied knowledge of the DOJ investigation. For Powell, who rarely reacts to Trump, the public response — and the video format itself — sent a signal.
Powell has typically avoided responding publicly to Trump’s attacks, reinforcing the image of the Fed’s independence. Opting to make a video statement was a way to project calm, while signaling the stakes of the situation, said communications and leadership experts.
Here are three reasons Powell’s video was a power move:
Videos are easier to share
In the roughly two-minute-long video, Powell emphasized what he said was driving the DOJ probe.
“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,” Powell said.
His message has already amassed more than 875,000 views on YouTube in under 24 hours. In an age of social media virality, the video format allows him to control the narrative with no intermediary. It also lets him keep up with Trump, who is especially active on social media.
Powell was smart to opt for a video instead of a written statement, in part because news and social media are increasingly visually oriented, Matthew Lombard, chair of the Department of Media Studies and Production at Temple University, said in an email to Business Insider. Journalists and commentators are more likely to use material that comes with images and video, he said.
“Video, especially when the person directly addresses the camera as he did, is more likely to evoke a sense of presence,” Lombard said. That makes it more likely the message will land, he said.
It delivers a “visceral, ‘he’s talking to me’ perception,” Lombard said.
Chelsea Butkowski, an assistant professor of communication at American University, told Business Insider that Powell’s decision to release a short video made it more likely to be shared on platforms like Instagram Reels, YouTube Shorts, and TikTok.
It showcased his measured communication style
Powell’s steady eye contact and a consistent tone of voice will likely help capture viewers’ attention and also underscore his authority, said Butkowski.
While he makes a firm statement, he keeps it short and to the point. Powell’s delivery communicates his independence and measured demeanor in a time of chaos.
“He’s really projecting a sense of stability; a sense of strength here,” she said.
It shows the gravity of the situation
Given that Powell has built a reputation for not responding to Trump’s insults, his selective responsiveness sends a message that this is a significant issue for him.
Where he filmed the video also matters, says Butkowski. She said that Powell’s decision to record the video before a blue curtain with the US flag in the background was likely designed to evoke tradition, while reaching the public in a modern, direct way.
By choosing to publish a video, Powell also made his message more personal. He showed viewers that he’s confident, calm, and not intimidated by Trump’s threats, she said.
“He’s essentially saying, ‘I’m establishment. I’ve been here through various administrations, and this one is not going to change the way that I communicate,'” Butkowski said.
