Summary
The U.S. Justice Department has started a criminal investigation involving Federal Reserve Chairman Jerome Powell. Powell stated that federal prosecutors issued subpoenas concerning his testimony to a Senate committee about renovations at Federal Reserve buildings.
Key Facts
- The Justice Department is looking into Federal Reserve Chairman Jerome Powell.
- Powell's testimony to a Senate committee is part of the investigation.
- The investigation relates to renovations at Federal Reserve buildings.
- Powell described the investigation as "unprecedented."
- Powell suggested the probe might be linked to President Trump, who has pressured him to lower interest rates.
- President Trump has repeatedly called for lower interest rates and has publicly criticized Powell, even threatening to fire him.
