Jan. 11, 2026 Washington, D.C. — Federal Reserve Chair Jerome Powell is now the subject of a criminal investigation by the Department of Justice (DOJ), as he announced in a statement on Sunday. The DOJ has launched an inquiry into the Federal Reserve’s renovation of its headquarters in Washington, D.C. Powell revealed that he received a grand jury subpoena regarding his testimony before the Senate Banking Committee last June, where he discussed the $2.5 billion renovation project. Several Republican lawmakers, including North Carolina Senator Thom Tillis, have spoken out against the DOJ's criminal investigation into Powell, with Tillis threatening to withhold all Fed nominations in response. The White House has stated that the President did not direct the DOJ to investigate Powell.
Transcript
Transcript will be available soon.