Wu Shuo learned that Federal Reserve Chairman Powell stated in a statement on January 11 that the Department of Justice issued a grand jury subpoena to the Federal Reserve on Friday, threatening to bring criminal charges related to his testimony before the Senate Banking Committee in June 2025. The testimony partially concerns the years-long renovation project of the Federal Reserve's historic office building; Powell said that this threat is not directed at the testimony or the renovation project itself, but is due to the Federal Reserve independently setting interest rates based on economic assessments rather than following presidential preferences.