NEW YORK, Jan. 11 (Xinhua) -- U.S. Federal Reserve on late Sunday confirmed that the federal prosecutors are investigating Fed Chairman Jerome Powell over the central bank's multi-billion-dollar project to renovate its headquarters.

In a public statement posted on the website of the Federal Reserve late Sunday, Powell said the Department of Justice on Friday served the Fed with grand jury subpoenas, "threatening a criminal indictment related to my testimony before the Senate Banking Committee last June. That testimony concerned in part a multi-year project to renovate historic Federal Reserve office buildings." ■