Wu Shuo learned that Federal Reserve Chairman Powell issued a statement on January 11, saying that the Justice Department sent a grand jury subpoena to the Federal Reserve on Friday, threatening criminal charges regarding his June 2025 testimony before the Senate Banking Committee, which partially involved the Federal Reserve's multi-year renovation project of its historic office building.
Powell stated that this threat is not directed at the testimony or the renovation project itself, but rather stems from the Federal Reserve independently setting interest rates based on economic assessments rather than following presidential preferences.
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Wu Shuo learned that Federal Reserve Chairman Powell issued a statement on January 11, saying that the Justice Department sent a grand jury subpoena to the Federal Reserve on Friday, threatening criminal charges regarding his June 2025 testimony before the Senate Banking Committee, which partially involved the Federal Reserve's multi-year renovation project of its historic office building.
Powell stated that this threat is not directed at the testimony or the renovation project itself, but rather stems from the Federal Reserve independently setting interest rates based on economic assessments rather than following presidential preferences.