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Fed Chair Powell Faces Investigation Amid Praise from Goolsbee

1/15/2026

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Summary

Story summary

Austan Goolsbee, president of the Federal Reserve Bank of Chicago, praised Jerome Powell, Chair of the Fed, amid an investigation.
Goolsbee called Powell a "first-ballot hall of fame Fed chair" and warned questioning integrity could harm Fed independence.
Powell confirmed the investigation, citing grand jury subpoenas tied to his Senate testimony on a $2.5 billion renovation.
Powell described the inquiry as politically motivated and aimed at undermining central bank policy.

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Story summary

Austan Goolsbee, president of the Federal Reserve Bank of Chicago, praised Jerome Powell, Chair of the Fed, amid an investigation.
Goolsbee called Powell a "first-ballot hall of fame Fed chair" and warned questioning integrity could harm Fed independence.
Powell confirmed the investigation, citing grand jury subpoenas tied to his Senate testimony on a $2.5 billion renovation.
Powell described the inquiry as politically motivated and aimed at undermining central bank policy.