PANews reported on January 12th, citing CNBC, that former Federal Reserve Chair Janet Yellen stated on Monday that the investigation into Jerome Powell undermines the Fed's independence. Yellen added that financial markets should pay more attention to this "extremely chilling" situation. Yellen said, "I'm surprised the market hasn't shown more concern. In my opinion, the market should be concerned." Yellen expressed her revulsion regarding the suggestion that Powell might have committed perjury last year. She stated, "I know Powell very well, and the possibility of him committing perjury is zero. So I do think they want him removed for his seat."