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Federal Probe Targets Powell Amid Criticism and Controversy

1/14/2026

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Powell Under Investigation
  • Federal prosecutors are investigating Jerome Powell, Federal Reserve chair, over his testimony about renovation costs.
  • The inquiry follows months of criticism from U.S. President Donald Trump, who labeled Powell ineffective.
  • Powell, in a rare video response, said the investigation pressures the Fed to lower rates.
  • Sen. Lisa Murkowski (R-Alaska) criticized the DOJ probe as coercive.
  • Senate Minority Leader Chuck Schumer condemned the investigation as an attack on the Fed's independence.
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