Trump Administration Probe of Fed's Powell Sparks Pushback

DONALD TRUMP - WASHINGTON. The Trump administration's decision to open a criminal investigation into Fed Chair Jerome Powell drew condemnation from former Fed chiefs and a chorus of criticism from key members of Trump's Republican Party on Monday, following an unusually sharp public rebuke from Powell calling the move a "pretext" to win presidential influence over interest rates.

The investigation, revealed late on Sunday when Powell said the Fed had received subpoenas from the U.S. Justice Department, was approved and started by Jeanine Pirro, the U.S. Attorney in Washington and an ally of President Donald Trump, according to two sources with knowledge of the investigation.