Congress erupted after the Department of Justice announced a criminal investigation into Federal Reserve Chairman Jerome Powell over the $2.5 billion renovation of the Federal Reserve. 

Part of the investigation involves previous statements made to the Senate Banking Committee in June, in which Powell was accused of misrepresenting facts regarding government spending on the Federal Reserve renovation. Powell, however, has claimed the investigation stems from his policy disagreements with President Donald Trump, not his congressional testimony.

“The threat of criminal charges is a consequence of the Federal Reserve setting interest rates based on our best assessment of what will serve the public, rather than following the preferences of the President,” he said in a video statement posted to X on Sunday.

Video message from Federal Reserve Chair Jerome H. Powell: https://t.co/5dfrkByGyX pic.twitter.com/O4ecNaYaGH

U.S. Attorney Jeanine Pirro defended the investigation in an X post on Monday night and argued that legal action was necessary because Powell ignored “multiple” inquiries from the Justice Department.

The United States Attorney’s Office contacted the Federal Reserve on multiple occasions to discuss cost overruns and the chairman’s congressional testimony, but were ignored, necessitating the use of legal process—which is not a threat.

The word “indictment” has come out of Mr.…

While some members of Congress have cast doubt on the administration’s investigation, others say it’s past time for the government to look more closely at the activities of the Federal........

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