Global central banks rally behind Fed chief Jerome Powell after Trump administration opens criminal probe

Global central banks work on statement in solidarity with Fed's Powell, Bloomberg News reports

Global central bank officials are working on a statement to express support for Federal Reserve Chair Jerome Powell after the Trump administration opened a criminal investigation into him, Bloomberg News reported on Tuesday, citing a person familiar with the matter.

The joint statement, which will be open for all central banks to sign, is expected to be issued under the Bank for International Settlements banner, the report said, adding that it could be issued as early as Tuesday.

The Bank for International Settlements is a central bank umbrella body, often dubbed as the central bank to the world's central banks.

Reuters could not immediately verify the report. The BIS and the U.S. Federal Reserve did not immediately respond to a request for comment.

The U.S. Justice Department issued subpoenas last week over comments Powell made to

Congress last summer about cost overruns on a $2.5 billion renovation of the central bank's Washington headquarters.

The Trump administration's decision drew condemnation from former Fed chiefs and a chorus of criticism from key members of Trump's Republican Party on Monday, following an unusually sharp public rebuke from Powell calling the move a "pretext" to win presidential influence over interest rates.