US Fed Chair Jerome Powell Under DoJ Criminal Probe Amid Trump Pressure

• US Federal Reserve Chairman Jerome Powell is under criminal investigation by the Department of Justice (DoJ).
• Powell confirmed the probe, stating it stems from testimony about Federal Reserve building renovations.
• He called the investigation "unprecedented" and linked it to US President Donald Trump's ire over interest rates.
• Powell emphasized the importance of the Fed's independence from political pressure in setting monetary policy.
• The probe escalates Trump's ongoing dispute with Powell, whom he nominated but has since criticized.

Why It Matters: US Fed Chair Jerome Powell faces a DoJ criminal probe, raising concerns about the Fed's independence.