Svmuu News Federal Reserve is challenging two subpoenas through legal proceedings. The subpoenas were issued by U.S. Attorney Jeanine Pirro and relate to a criminal investigation into Jerome Powell Chairman . Reports indicate that the investigation focuses on statements previously made by Jerome Powell to Congress regarding the renovation project for the Federal Reserve building. Jerome Powell has publicly stated that the investigation is related to external controversies over monetary policy. Sources familiar with the matter said that Federal Reserve has filed a motion under seal asking the court to quash or narrow the scope of the subpoena. Because grand jury investigations are subject to secrecy rules, the relevant legal proceedings have not been made public. (The Wall Street Journal)