Trump Accused of Abusing Law in Justice Dept Probe into Fed's Jerome Powell

• Fed Chair Jerome Powell reveals criminal indictment threat over office renovations, linking it to interest rate decisions.
• The New York Times reports a criminal investigation by the US attorney’s office in the District of Columbia into Powell.
• Senators Thom Tillis and Elizabeth Warren criticize Trump, calling his actions an abuse of power and an attempt to undermine Fed independence.
• Chuck Schumer states Trump's 'assault on the Fed's independence continues,' threatening US economic stability.
• Analysts warn Trump's tactics could backfire, potentially driving up inflation and weakening the dollar.

Why It Matters: Trump's administration faces backlash for allegedly using a criminal probe to pressure Fed Chair Jerome Powell.