Powell alleges DOJ investigation and grand jury subpoenas tied to Senate testimony

In a statement, Fed Chair Jerome Powell said the Federal Reserve has received grand jury subpoenas “threatening a criminal indictment related to my testimony before the Senate Banking Committee last June,” connected to historic building renovations. He framed the move as retaliation for decisions on interest rates that he says were made to serve the public, rather than to align with the President’s preferences.

Powell noted that major outlets—the Wall Street Journal, CNBC, and the New York Times—have additional reporting on the matter.

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