Powell was responding to grand jury subpoenas delivered to the Federal Reserve related to his congressional testimony regarding construction work at the Fed headquarters.

Yet another government official faces potential criminal charges after clashing with President Donald Trump. This time, the head of the Federal Reserve Board is under federal investigation over testimony he gave to Congress. He and many observers see another example of Trump using the justice system to go after his opponents.

Jerome Powell, head of the U.S. Federal Reserve, said on Sunday the Justice Department has opened a criminal investigation against him for allegedly misleading Congress about a building renovation project at the central bank’s headquarters.

The Federal Reserve has several tools to manage the money supply and keep the economy running smoothly. Learn how the central bank sets monetary policy.

The investigation, which is said to center on renovations of the Federal Reserve’s headquarters in Washington, is an escalation of the president’s long-running pressure campaign on Jerome H. Powell.

The Trump administration is threatening criminal charges against Federal Reserve Chair Jerome Powell. Powell said it’s part of a pressure campaign from the administration to lower interest rates. Economist Jason Furman explains more.

The top Republican in the U.S. Senate acknowledged on Monday that the Trump administration's threat to indict Federal Reserve Chair Jerome Powell could make it harder for Congress to confirm President Donald Trump's nominees for the ​U.

The chair of the Federal Reserve oversees the U.S. banking system and helps steer monetary policy. The chair's salary is set by the U.S. Congress.