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TLDR The Justice Department has initiated a criminal investigation into Jay Powell concerning the $2.5 billion renovation of the Federal Reserve's Washington headquarters. Powell announced on Sunday that the Federal Reserve received grand jury subpoenas and a potential criminal indictment from the Department of Justice. He characterized the legal actions as an attempt to undermine the Fed's independence in setting interest rates. The section also includes various public comments responding to the investigation, expressing a range of opinions on the matter.
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