The stakes are too high to look the other way: if the Federal Reserve loses its independence, the economy will suffer.”

The DOJ subpoenaed the Fed Reserve concerning allegations that Powell lied regarding the scope of expensive Fed reservations.

U.S. Federal Reserve chair Jerome Powell says that the Trump administration had threatened him with a criminal indictment and served grand jury subpoenas over ​congressional testimony he gave last summer regarding a Fed building renovation project.

"If the Federal Reserve loses its independence, the stability of our markets and the broader economy will suffer," warned Sen. Lisa Murkowski (R-Alaska).

WASHINGTON — Late last year, as President Donald Trump was publicly intensifying his attacks against Federal Reserve and chairman Jerome Powell, federal prosecutors quietly began a criminal investigation. And when subpoenas were ready, three sources told NBC News, they kept the circle small.

The Federal Reserve chair said the central bank has been threatened with a criminal indictment over his testimony about building renovations.

Bank of England governor Andrew Bailey was at the centre of an extraordinary showdown with Donald Trump over the future of America’s top banker.

Powell announced on Sunday the DOJ is probing the Federal Reserve, raising concerns about the nature of the investigation.

Federal Reserve chair could stay on board beyond this year in effort to protect US central bank’s independence

Jerome Powell isn't the first high-profile official to find himself targeted by the Justice Department since Donald Trump returned to the White House.

Sen. Elizabeth Warren (D-Mass.) said the Senate should halt all of President Trump’s nominees to the Federal Reserve because of the Department of Justice (DOJ) probe into Federal Reserve Chair