Federal Reserve Chair Jerome Powell revealed on Sunday that the U.S. central bank has been served subpoenas by the Department of Justice that threaten criminal charges, raising concerns that the Trump administration is trying to undermine the institution's independence.
"On Friday, the Department of Justice served the Federal Reserve with grand jury subpoenas, threatening a criminal indictment related to my testimony before the Senate Banking Committee last June," Powell said in a video statement released by the Fed on Sunday. "That testimony concerned in part a multi-year project to renovate historic Federal Reserve office buildings."
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by Jyotsna V
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