'Criminal probe looks at his testimony to Congress over central-bank renovations.
U.S. prosecutors are investigating Federal Reserve Chair Jerome Powell over his testimony last summer about the central bank’s building-renovation project, according to government officials with knowledge of the matter.
The Fed received grand jury subpoenas from the Justice Department on Friday that threaten a criminal indictment, the Fed chair said in a statement.
In an extraordinary video statement Sunday night, Powell called the investigation a pretext as part of President Trump’s continuing campaign to pressure the Fed to lower interest rates, and end the independence of the central bank.
“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 in the video.'
'Sen. Elizabeth Warren of Massachusetts, the panel’s top Democrat, said Trump was attempting to push out Powell and “install another sock puppet to complete his corrupt takeover of America’s central bank.”'