A man was arrested today in connection to a plot to blow up the Federal Reserve. According to the Post, the suspect parked a van filled with what he thought were explosives outside of the Liberty Street building, then tried to set them off using a cell phone detonator. According to CBS, it was a 1,000-pound faux bomb. [UPDATE BELOW]

But the FBI says there was never any danger involved with the plot: the faulty "explosives" had been provided by an undercover FBI agent that met the subject through the internet. The Post's sources say the suspect raised red flags after posting about Jihad online. The joint NYPD/FBI operations had planned the fake attack for at least three months.

After parking the van in front of the Fed this morning, the suspect reportedly went to the Millennium Hotel near the World Trade Center, where he called the cell phone in the van. After it didn't blow up, the suspect was arrested by authorities. We'll update as we learn more information about the operation and suspect.

Update: The suspect has now been identified by CBS as 21-year-old Quazi Mohammad Rezwanul Ahsan Nafis, a Bangladeshi native who lives in Jamaica, Queens. The FBI says he traveled to the US in January 2012 to carry out a terrorist attack; he was involved in an online forum with Al Qaeda sympathizers; and he also possibly had contacts with al-Qaeda. He's due to be arraigned this afternoon in Brooklyn Federal Court.