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Powell was responding to grand jury subpoenas delivered to the Federal Reserve related to his congressional testimony regarding construction work at the Fed headquarters.
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Minnesota and the cities of Minneapolis and St. Paul are suing to end a surge of federal immigration agents they said violates federal and state laws.
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The Federal Reserve is likely to hold interest rates steady when it meets at the end of the month, keeping tensions high with President Trump.
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The state and cities filed a lawsuit in federal court on Monday, along with a request for a temporary restraining order to halt the enforcement action or limit the operation.
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The Justice Department's probe into whether Jerome H. Powell, the chair of the Federal Reserve, lied about renovations to the central bank's headquarters has raised alarms.
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Saying immigration agents have acted more like an occupying military force than law enforcement, lawyers for the state of Illinois and Chicago sued the Trump administration in federal court Monday seeking to bar agents from using tear gas without sufficient warning, making warrantless arrests, and randomly stopping people to question them about their citizenship.
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S&P 500, Dow climb to closing records as traders look past Fed independence risk: Live updates CNBCWall Street ticks to records after shaking off worries about Trump's feud with the Fed YahooDollar Weakens After Fed Is Served With Subpoenas: Markets Wrap Bloomberg.comStock Market Today: Dow higher, joining S&P 500 and Nasdaq in positive territory after erasing early losses; Powell says the Fed has been subpoenaed, Treasury yields edge up, and gold and silver hit new records. MarketWatch
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Live updates: Minnesota and Twin Cities sue federal government to stop immigration crackdown AP News‘Aren't We Supposed to Be the Good Guys Here?' The AtlanticSen. Mark Kelly says Hegseth's move to demote him "is about stifling people's speech" CBS NewsKelly Sues Pentagon Over Threats of Punishment From Hegseth The New York TimesSen. Mark Kelly files lawsuit alleging Hegs
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Democrats asked a federal judge to convene an emergency hearing to evaluate a new DHS directive that restricts them from accessing ICE facilities.
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CNBC Daily Open: Iran has more avenues of retaliating against the U.S. — including oil supply CNBCTrump's Iran ‘Freedom' Message May Lift Energy and Defense Stocks on Geopolitical Risk Hopes TipRanksCNBC daily open: Trump has Iran in his sights — watch for oil prices MSN
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The feds gave out $496,000 in improper assistance to 509 dead tenants, an initial analysis has shown.
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The killing of Renee Good by an ICE agent sparked protests across Minneapolis. Federal authorities have taken over the investigation and say they're sending more Homeland Security agents to Minnesota.
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And the market is gently shrugging.
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