Federal Reserve Chair Powell Says DOJ Subpoenaed Central Bank and Threatened Indictment

Federal Reserve Chair Jerome Powell said the Justice Department served subpoenas on the Federal Reserve and threatened criminal charges over his testimony about building renovations; a U.S. Attorney's office did not immediately respond to requests for comment.

Federal Reserve Chair Jerome Powell said the Justice Department has served subpoenas on the central bank and threatened criminal charges over his testimony about the Fed's building renovations. He delivered the remarks in a video statement. The report comes amid an ongoing dispute between President Donald Trump and the Federal Reserve over interest-rate policy. Powell characterized the threat of criminal charges as a pretext to undermine the Fed's independence. Reported facts: - The Justice Department reportedly served subpoenas on the Federal Reserve related to Powell's testimony about building renovations. - Federal Reserve Chair Jerome Powell said the threats of criminal charges amounted to pretexts to influence monetary decision‑making. - The matter is noted as an escalation in public tensions between President Donald Trump and the Fed over interest-rate policy. - A spokesperson for U.S. Attorney Jeanine Pirro's office did not immediately respond to requests for comment. Summary: Powell reported that the DOJ has subpoenaed the Federal Reserve and threatened criminal charges, and he described those threats as efforts to influence policy. A U.S. Attorney's office did not immediately comment. Undetermined at this time.