Powell Vows to Stand Firm as Fed Served With DOJ Subpoenas

The U.S. central bank has been served with grand jury subpoenas from the Justice Department threatening a criminal indictment, Federal Reserve Chairman Jerome Powell said in a video statement on Sunday. Powell said the action was related to testimony he made to Congress in June about ongoing renovations at the Fed headquarters. Michael McKee examines this increase in the Trump administration’s attacks on the institution.