In the clip, Powell says the background is footage of his testimony this summer about the bank's headquarters in Washington. President Donald Trump has previously suggested that Powell built a "palace" for himself.
"This is about whether the Fed will be able to continue to set interest rates based on evidence and economic conditions – or whether monetary policy will instead be driven by political pressures or threats," Powell said in the clip, which was posted on the bank's official account.
The Justice Department would not comment on the specific case, but said in a statement that Attorney General Pam Bondi "has instructed her U.S. attorneys to prioritize investigations into possible misuse of taxpayer money," AP reports.
The White House has previously said it is exploring the possibility of firing Powell, who took office in 2018 and whose term expires in May this year.
