Story perspectives

Fed Chair Powell Under Investigation, Future Uncertain

1/17/2026

Summary

Story summary

Jerome H. Powell, Federal Reserve chair, faces a criminal investigation into whether he lied to Congress.
The investigation prompts Powell to abandon his previous strategy of avoiding conflict with U.S. President Donald Trump.
In a recent video message, Powell said the administration uses the investigation as leverage to press the Fed to lower borrowing costs.
With his term ending in May, his future as chair remains uncertain amid political turmoil.

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Story summary

Jerome H. Powell, Federal Reserve chair, faces a criminal investigation into whether he lied to Congress.
The investigation prompts Powell to abandon his previous strategy of avoiding conflict with U.S. President Donald Trump.
In a recent video message, Powell said the administration uses the investigation as leverage to press the Fed to lower borrowing costs.
With his term ending in May, his future as chair remains uncertain amid political turmoil.