U.S. prosecutors have served the Federal Reserve with grand jury subpoenas, Fed chairman Jerome Powell said in a video statement on Sunday night.
The Fed received the subpoenas from the Justice Department on Friday, Powell said. He said federal prosecutors are threatening a criminal indictment relating to Powell’s testimony before the Senate Banking Committee last June. That testimony concerned in part the Fed’s renovation of the central bank’s offices in Washington, D.C.
Powell claimed, without evidence, that the inquiries into the renovations and his congressional testimony were merely “pretexts” for political interference in monetary…
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