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Powell said the Department of Justice served the Federal Reserve with grand jury subpoenas on Friday, threatening a criminal indictment related to Powell's testimony before the Senate Banking Committee last June about a multi-year Federal Reserve renovation project. "This new threat is not about my testimony last June or about the renovation of the…

Long-running tensions between President Donald Trump and Federal Reserve Chair Jerome Powell have escalated. On Jan. 9, the Justice Department served the Federal Reserve with grand jury subpoenas. On Jan. 11, Powell released a video statement saying that the Justice Department threatened him with a criminal indictment tied to his congressional testimony on…

The following information was released by the Federal Reserve Board:. The reviews focused on leveraged loans and stressed borrowers from various industry sectors and assessed aggregate loan commitments of $100 million or more that are shared by multiple regulated financial institutions. U.S. banks hold 45 percent of all SNC commitments.

—The corruption case of Lebanon's former central bank governor, who is widely blamed for the country’ s economic meltdown, has been transferred to the country's highest court, judicial officials told The Associated Press on Tuesday. Riad Salameh was released on $14 million bail in September after a year in prison while awaiting trial in Lebanon on corruption…

There’ s a time-honored tradition of U.S. presidents, whose electoral fortunes tend to rise or fall with the state of the economy, grumbling about chairmen of the Federal Reserve Board. News broke over the weekend that Powell is under criminal investigation by the Justice Department, which sadly has become an attack tool of the president’ s, in connection with the…

WASHINGTON— President Donald Trump's feud with Federal Reserve Chairman Jerome Powell has escalated into a Department of Justice investigation, raising alarm bells among some Republicans in the Senate, where Trump will need broad backing from GOP lawmakers to get his choice for the next Fed chairman approved after Powell's term ends in May.

"I oppose the wanton act of legal intimidation against Federal Reserve Chair Powell and will continue to support the vigorous independence of the Federal Reserve. This ridiculous and blatant abuse of power does not just hurt the Federal Reserve, but threatens the stability of the American economy. "As Chairman Powell made clear, the administration's legal…

U.S. Representative Juan Vargas, Ranking Member of the House Financial Services Committee Task Force on Monetary Policy, Treasury Market Resilience, and Economic Prosperity, released the statement below on reports that the Department of Justice has launched a criminal investigation into Federal Reserve Chair Jerome Powell. Federal Reserve Chair Jerome…

U.S. Congressman Sean Casten released the following statement regarding Federal Reserve Chair Jerome Powell:. "President Trump's threat to criminally charge Jerome Powell must be considered with the utmost seriousnesssuch dangerous and escalating attacks can cause irreparable harm to the U.S. economy. "Jerome Powell has always zealously defended the…

Three former heads of the US central bank on Monday decried a criminal investigation into chair Jerome Powell, calling it a bid to undermine the Federal Reserve's independence. "The Federal Reserve's independence and the public's perception of that independence are critical for economic performance," they wrote. The statement of condemnation was published…

Lawmakers and former Federal Reserve officials rallied Monday to the defense of Fed Chair Jerome Powell, one day after the central bank said it received a grand jury subpoena from the Justice Department. Powell’ s testimony about a renovation of Federal Reserve buildings in Washington was a thinly veiled attempt to punish Mr. Powell for his cautious approach…

U.S. stocks dove into negative territory to start the week on Monday after the Department of Justice sent subpoenas to the Federal Reserve as part of a criminal inquiry into Chair Jerome Powell’ s remarks to Congress. The Justice Department has not revealed any details about the probe, although Mr. Powell signaled that prosecutors may believe he lied to Congress…

That had long been his approach to handling President Donald Trump and his relentless attacks on the Federal Reserve, which in his second term had taken on heightened intensity. A criminal investigation into whether Powell lied to Congress, revealed by The New York Times on Sunday, has prompted the central bank to jettison its cautious approach and fight.

The Justice Department has launched a criminal investigation into Federal Reserve Chair Jerome Powell. Powell said the DOJ had issued subpoenas related to his congressional testimony about the central bank’ s $2.5 billion renovation of its Washington, D.C., headquarters last year. Jerome Powell:“ The threat of criminal charges is a consequence of the Federal…