BREAKING: The Department of Justice has subpoenaed the central bank and threatens criminal indictment, Fed chair says.

The move represents a major escalation in President Donald Trump's battle with the Fed, an independent agency he has repeatedly attacked for not cutting its key interest rate as quickly as Trump prefers.  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  NATIONAL BREAKING NEWS BREAKING NEWS Federal Reserve Chair Powell says DOJ has subpoenaed central bank January 11, 7:12PM CST The move represents a major escalation in President Donald Trump's battle with the Fed, an independent agency he has repeatedly attacked for not cutting its key interest rate as quickly as Trump prefers. More » MORE STORIES Federal Reserve Chair Powell says DOJ has subpoenaed central bank » New law means states have big decisions this year on Medicaid, SNAP and taxes » How to start 2026 on the best financial footing » The highest-grossing movies are getting less original » MANAGE YOUR ACCOUNT If you'd like to receive some of our other email newsletters, you can tap or click the links below: Be among the first to receive National Breaking News or Local Breaking News as stories break. Catch up on the day's big stories with our Morning Headlines and Afternoon Digest newsletters. Receive our Daily Forecasts or get Severe Weather Alerts sent straight to your email inbox. Manage your email newsletter subscriptions » For the very latest information, download our free apps To ensure email delivery, add newsletters@e.kcci.com to your address book or safe senders list © 2026 Hearst Properties Inc. 300 W 57th Street, New York NY 10019 Privacy Notice | Terms of Use | Unsubscribe