[Video] Federal Reserve served grand jury subpoenas amid criminal charge threats

Video: Federal Reserve Chairman Jerome Powell reacts to the Department of Justice serving grand jury subpoenas, threatening criminal charges related to his testimony before the Senate Banking Committee last June. The testimony involved a project to renovate historic Federal Reserve office buildings. Powell emphasizes the importance of the rule of law and accountability in democracy, stating that no one is above the law. He asserts that the threat of criminal charges stems from the Federal Reserve's decision-making on interest rates, rather than the testimony itself. He expresses his commitment to serving the American people with integrity.