NewYork, Jan. 12 -- The U.S. Federal Reserve confirmed late Sunday that the federal prosecutors are investigating Fed Chair Jerome Powell over the central bank's multi-billion-dollar project to renovate its headquarters.
In a public statement posted on the website of the Federal Reserve late Sunday, Powell said the Department of Justice on Friday served the Fed with grand jury subpoenas, "threatening a criminal indictment related to my testimony before the Senate Banking Committee last June. That testimony concerned in part a multi-year project to renovate historic Federal Reserve office buildings.""This unprecedented action should be seen in the broader context of the administration's threats and ongoing pressure," Powell said. "The threa...