Donald Trump promised in his second inaugural address to fairly apply the law, unlike how he said he'd been treated by federal authorities. “The vicious, violent and unfair weaponization of the Justice Department and our government will end,

Sen. Lisa Murkowski said the investigation is "nothing more than an attempt at coercion," while House Financial Services Committee Chair French Hill warned it would create "an unnecessary distraction.

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.

The Department of Justice’s threat to criminally indict Federal Reserve Chair Jerome Powell has set up a tense showdown between the White House and the U.S. central bank, with Powell saying the subpoenas that arrived on Friday are intended to force him to follow President Donald Trump’s orders.

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.

Asian equities posted gains Monday while the dollar dipped as investors digested news that the US Justice Department subpoenaed the Federal Reserve, raising fears over US central bank independence.Asian markets posted gains in early trade.