00:00It's Benzinga, bringing Wall Street to Main Street.
00:03Federal Reserve Chair Jerome Powell said the central bank received grand jury subpoenas
00:07from the Justice Department that threatened a criminal indictment tied to his June congressional
00:11testimony on renovations to the Fed's headquarters. In a statement Sunday, Powell said the action was
00:17not driven by the testimony or the renovation and called those explanations pretext, Bloomberg
00:22reported. Powell said the threat stemmed from the Fed setting interest rates based on economic
00:27evidence rather than presidential preferences. The U.S. dollar weakened following the news,
00:33gold rose to a record high, and S&P 500 futures fell 0.3 percent.
00:39For all things money, visit Benzinga.com.
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