BoC’s Macklem says U.S. Fed Chair Powell has his ‘full support’

Bank of Canada Governor Tiff Macklem came to the defence of his U.S. counterpart Jerome Powell on Monday as the chair of the Federal Reserve faces a criminal investigation from President Donald Trump’s justice department.

Powell said Sunday that the U.S. DOJ had subpoenaed the Fed late last week in connection with testimony he gave to the Senate in June about a renovation project to Federal Reserve buildings in Washington, D.C.