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DOJ Subpoenas Powell Amid Trump’s Fed Independence Struggle

1/13/2026

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Powell Under Investigation
  • The Department of Justice issued subpoenas related to Jerome Powell, Chair of the Federal Reserve, over his testimony on a $2.5 billion renovation of Fed buildings.
  • Powell says the investigation is part of U.S. President Donald Trump's effort to undermine Fed independence.
  • Senator Thom Tillis (R-N.C.) questions DOJ credibility.
  • He says he will block any Trump Fed nominees until the investigation resolves.
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