Fed Chairman Powell announced threats of criminal charges from the US Department of Justice

The head of the Federal Reserve System (FRS), Jerome Powell, said that the US Department of Justice is threatening him with criminal charges. The corresponding appeal was published on the agency's website on January 11.

"On Friday, the Department of Justice served the Fed with grand jury subpoenas threatening criminal charges in connection with my testimony before the Senate Banking Committee last June. These statements, in particular, concerned a multi—year project to renovate the historic buildings of the Federal Reserve," Powell said.

The news is being updated