Story perspectives

Federal Reserve Chair Powell Investigated Over $2.5B Renovation

1/16/2026

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Powell Investigated Over Renovation

Jerome H. Powell, the chair of the Federal Reserve, is under Justice Department investigation over a $2.5 billion renovation of Fed headquarters.
Powell accused the administration of U.S. President Donald Trump of using threats to pressure the Fed.
Central bankers worldwide, including leaders from the European Central Bank and the Bank of England, expressed solidarity.
Republican lawmakers criticized the investigation, warning it jeopardizes the Fed's credibility and complicates President Trump's efforts.

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FBI Searches Reporter

The FBI searched the home of Washington Post reporter Hannah Natanson as part of an investigation into a contractor accused of hoarding federal secrets.
Agents seized Natanson's personal and work laptops and her phone.
The investigation targets Aurelio Perez-Lugones, a Maryland system administrator with top-secret clearance who took classified reports home.
Attorney General Pam Bondi said President Donald Trump’s administration is committed to stopping illegal leaks that threaten national security.

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Powell Investigated Over Renovation

Jerome H. Powell, the chair of the Federal Reserve, is under Justice Department investigation over a $2.5 billion renovation of Fed headquarters.
Powell accused the administration of U.S. President Donald Trump of using threats to pressure the Fed.
Central bankers worldwide, including leaders from the European Central Bank and the Bank of England, expressed solidarity.
Republican lawmakers criticized the investigation, warning it jeopardizes the Fed's credibility and complicates President Trump's efforts.

1 / 2