‎Federal prosecutors have opened a criminal investigation into Federal Reserve Chairman Jerome Powell,
‎In a video announcing the investigation, Powell said the US justice department served the agency with subpoenas and threatened a criminal indictment over testimony he gave to a Senate committee about renovations to Federal Reserve buildings.
‎He called the probe unprecedented and said he believed it was opened due to him drawing Donald Trump’s ire over refusing to lower interest rates despite repeated public pressure from the president.
‎The Fed chair is the latest to come at odds with Trump and then face criminal investigation by the US justice department.
‎Meanwhile, Trump said in an interview with News men on Sunday that he did not have any knowledge of the Justice Department’s investigation into the Fed.
Edited by Favour Owonibi.