Intro

After receiving grand jury subpoenas from the Justice Department last week, Federal Reserve Chair Jerome Powell said the investigation was part of a pressure campaign to get the Fed to lower interest rates. WSJ’s Nick Timiraos explains how the investigation could change who controls monetary policy in the future. Jessica Mendoza hosts.

Further Listening:

- Is the Economy Getting Better or Worse? The Fed Says It’s Hard to Tell

- Who Will Be the Next Fed Chair? Maybe Kevin

Sign up for WSJ’s free What’s News newsletter.

Learn more about your ad choices. Visit megaphone.fm/adchoices