Federal prosecutors have opened a criminal investigation into Federal Reserve Chairman Jerome Powell, he said on Sunday.
In a video announcing the probe, Powell said the US justice department served the agency with subpoenas and threatened a criminal indictment over testimony he gave to a Senate committee about renovations to Federal Reserve buildings.
He called the probe "unprecedented" and said he believed it was opened due to him drawing President Donald Trump's ire over refusing to lower interest rates despite repeated public pressure from the president.
The Fed chair is the latest to come at odds with Trump and then face criminal investigation by the US justice department.
"This is about whether the Fed will be able to continue to set interest rates based on evidence and economic conditions, or whether instead monetary policy will be directed by political pressure or intimidation," Powell said.
