Fed Chair Powell facing criminal indictment from DOJ

Federal Reserve Chairman Jerome Powell says he’s facing a criminal indictment from the Justice Department. Powell issued a video statement about the central bank being served with subpoenas and facing threats from the Trump administration. The subpoena relates to Powell’s congressional testimony last June. But the fed chair says it’s about the president’s unhappiness with interest rate policy. Powell warned that the Fed’s independence is at stake and that he will continue to serve in the face of political intimidation.