Fed Chair Powell says DOJ subpoenas pose threat to US central bank independence



Briefings Fed Chair Powell says DOJ subpoenas pose threat to US central bank independence Markets brace for impact on Korean won stability ahead of central bank’s monetary policy board meeting this week KOREA PROJanuary 13, 2026 SHARE COPY LINK FACEBOOK X LINKEDIN MASTODON U.S. President Donald Trump meets with Federal Reserve Chair Jerome Powell, July 24, 2025 \| Image: White House Federal Reserve Chair Jerome Powell issued a statement Sunday evening (Monday morning, KST) after the U.S. Department of Justice served the Federal Reserve with grand jury subpoenas related to a criminal investigation into his 2025 congressional testimony. The subpoenas, served Friday, relate to Powell’s June statements regarding a roughly $2.5 billion renovation of the Fed’s historic headquarters, with prosecutors examining whether his testimony accurately reflected the project’s scope and cost. In the statement, Powell characterized the investigation as “pretextual,” labeling it an attempt by the Donald Trump administration to intimidate the central bank into aligning interest rate policy with executive © Korea Risk Group. All rights reserved. No part of this content may be reproduced, distributed, or used for commercial purposes without prior written permission from Korea Risk Group. LATEST ANALYSIS 01South Korea’s CPTPP push exposes the cost of turning trade gains into consensus 02AI storage boom gives South Korea battery makers an EV overcapacity lifeline 03South Korea’s Mexico strategy runs into the hard limits of USMCA politics 04Preschool test ban forces South Korea’s English hagwons to rethink placement 05Lee Jae Myung’s Wall Street pitch tests South Korea’s capital market credibility 06US midterm clock raises stakes for South Korea’s $200 billion investment talks 07Lee’s Hormuz red line tests South Korea’s leverage in $350 billion US talks 08South Korea’s AI data center boom is colliding with the true cost of power

Briefings

Fed Chair Powell says DOJ subpoenas pose threat to US central bank independence

Markets brace for impact on Korean won stability ahead of central bank’s monetary policy board meeting this week

KOREA PROJanuary 13, 2026

Fed Chair Powell says DOJ subpoenas pose threat to US central bank independence

U.S. President Donald Trump meets with Federal Reserve Chair Jerome Powell, July 24, 2025 | Image: White House

Federal Reserve Chair Jerome Powell issued a statement Sunday evening (Monday morning, KST) after the U.S. Department of Justice served the Federal Reserve with grand jury subpoenas related to a criminal investigation into his 2025 congressional testimony. The subpoenas, served Friday, relate to Powell’s June statements regarding a roughly $2.5 billion renovation of the Fed’s historic headquarters, with prosecutors examining whether his testimony accurately reflected the project’s scope and cost.

In the statement, Powell characterized the investigation as “pretextual,” labeling it an attempt by the Donald Trump administration to intimidate the central bank into aligning interest rate policy with executive

Fed Chair Powell says DOJ subpoenas pose threat to US central bank independence

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