Svmuu News: Federal Reserve Chairman Jerome Powell issued a statement stating that the U.S. Department of Justice served Federal Reserve with a grand jury subpoena on Friday, threatening criminal prosecution over his testimony before the Senate Banking Committee last June.Jerome H. Powell stated that the testimony pertained to a multi-year Federal Reserve office building renovation project, but the true reason behind the threat of criminal charges is that Federal Reserve sets interest rates based on economic assessments rather than following the President’s preferences. He emphasized that Federal Reserve must formulate monetary policy based on evidence and economic conditions, rather than being influenced by political pressure or intimidation.She will continue to fulfill the duties entrusted to her by the Senate, committed to the mission of maintaining price stability and full employment.