President Donald Trump faced rare opposition from key Republican lawmakers after Federal Reserve Chair Jerome Powell accused the Department of Justice of launching a grand jury investigation to pressure and intimidate the central bank.

Jerome Powell says the criminal investigation centers on a June Senate hearing, where he got into a heated exchange over the Fed's renovation plans.

President Donald Trump wants to juice the economy with dramatically lower interest rates, to take credit for a booming stock market and, perhaps most of all, for his handpicked Fed chair to get off the stage.

Global central bank officials are working on a statement to show solidarity with Chairman Jerome Powell after the Trump administration dramatically escalated its pressure campaign toward the Federal Reserve,

The Justice Department is investigating Federal Reserve Chair Jerome Powell, sparking outcry from lawmakers across both sides of the aisle. CBS News chief legal correspondent Jan Crawford has more.