Trump allies fear that the inquiry into the Fed chair could complicate the process of replacing him this year.

Federal Reserve Chair Jerome Powell has drawn all sorts of support after disclosing that the Trump administration’s Department of Justice has threatened him with a criminal indictment over his testimony about building renovations.

The stakes are too high to look the other way: if the Federal Reserve loses its independence, the economy will suffer.”

Jerome Powell said he believed the investigation was due to Donald Trump's anger over the Fed's refusal to cut interest rates.

If markets really think the Fed is going to base policy on the president's whims rather than what’s best for the economy, it could cause a financial bloodbath.

President Donald Trump faced rare opposition from key Republican lawmakers after Federal Reserve Chair Jerome Powell accused the Department of Justice of launching a grand jury investigation to pressure and intimidate the central bank.