US EditionReport: Federal Prosecutors Open Criminal Probe into Fed Chair Powell
- On January 11, 2026, federal prosecutors in Washington, D.C., opened a criminal inquiry into Federal Reserve Chair Jerome Powell over the Marriner S. Eccles Building renovation and whether he misled Congress, The New York Times reported.
- $2.5 billion renovation has run roughly $700 million over initial projections due to asbestos, soil contamination, and higher materials and labour costs at the Marriner S. Eccles Building.
- Powell said the DOJ served grand jury subpoenas on Friday regarding his June 2025 Senate testimony, and the Fed published FAQs and additional materials.
- Powell responded that the subpoenas were a threat to the Fed's independence and vowed to continue in his duties, while the Department of Justice must still assemble evidence to secure an indictment.
- Authorized in November 2025 by U.S. Attorney Jeanine Pirro, the inquiry represents an extraordinary escalation of President Donald Trump's campaign against Powell and raises political pressure questions on the Federal Reserve.
136 Articles
136 Articles
Federal Reserve President Jerome Powell accused that the U.S. central bank had received subpoenas from a grand jury from the Department of Justice threatening a criminal charge, a dramatic escalation of the Donald Trump administration's attacks on the Fed. In a strong written and video statement released on Sunday evening, January 11, Powell stated that the measure was related to his testimony before Congress in June on the ongoing renovations a…
Federal inquiry into Powell dramatically dials up Trump-Fed clash
Federal prosecutors in DC are investigating Federal Reserve Chair Jerome Powell over his June testimony on the ongoing renovation of the central bank’s headquarters, Powell said Sunday. In an uncharacteristically blunt statement, Powell linked the probe to the Fed setting interest rates independently “rather than following the preferences of the president.” He added that “this is about whether the Fed will be able to continue to set interest rat…
After months of harassment by U.S. President Donald Trump against the head of the Federal Reserve (Fed), Jerome Powell, the harassment has risen. Powell confirmed this Sunday that the U.S. Attorney General's Office has opened a criminal investigation into the reform work at the institution's headquarters in Washington. Federal prosecutors investigate whether Powell lied during his appearance in Congress last summer to explain the details of the …
The differences and frictions between the Trump administration and the Federal Reserve have reached an unprecedented level. Fed President Jerome Powell announced tonight that U.S. federal prosecutors opened a criminal investigation against him.The investigations are related to Fed building renovations, but Powell said they are framed in a scenario of political pressure on US Central Bank monetary policy, which has not lowered interest rates to t…
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