The Justice Department's probe into whether Jerome H. Powell, the chair of the Federal Reserve, lied about renovations to the central bank's headquarters has raised alarms.
Dow falls more than 100 points as DOJ Powell probe raises fear Trump trying to take control of the Fed: Live updates CNBCStatement from Federal Reserve Chair Jerome H. Powell Federal Reserve Board (.gov)Fed Changes Tack as Trump Administration Invokes ‘Nuclear Option' The New York TimesRepublican Sen. Thom Tillis vows to block Trump's Fed nom
Federal Reserve Board Chair Jerome H. Powell accused the Justice Department of using the investigation to pressure the central bank to lower interest rates.
The Justice Department served the Federal Reserve with grand jury subpoenas on Friday, Fed Chair Jerome Powell said Sunday, threatening an "unprecedented" criminal indictment against him over cost overruns for the renovation of the Fed's headquarters building.
