US Fed Chair Jerome Powell Under Criminal Investigation
Washington D.C. - Federal prosecutors have launched a criminal investigation into Federal Reserve Chairman Jerome Powell, according to Powell himself. The announcement came on Sunday in a video where Powell stated that the US Justice Department had served the agency with subpoenas and threatened a criminal indictment.
The investigation centers around testimony Powell gave to a Senate committee regarding renovations to Federal Reserve buildings, according to Powell. He described the probe as "unprecedented."
Powell suggested the investigation was initiated due to him drawing the ire of former President Donald Trump for refusing to lower interest rates despite repeated public pressure from the president. According to Powell, he believes this disagreement with Trump is the reason for the investigation.
The investigation is ongoing, and further details are currently unavailable.
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