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Senators Demand Transparency in Fed Investigation Controversy

1/21/2026

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Summary

Story summary

On January 20, 2026, U.S. Senators Elizabeth Warren and Dick Durbin urged President Trump's administration to release records related to the Justice Department's investigation into Federal Reserve Chair Jerome Powell.
The senators argued that the probe misuses power and seeks to control the Federal Reserve.
Powell indicated he received subpoenas concerning his congressional remarks about Fed building renovations, implying the investigation pressures the central bank to lower interest rates.
The senators also requested information on communications involving Powell and other Fed officials.
The Supreme Court will hear arguments regarding Trump's attempt to fire Fed Governor Lisa Cook.

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Story summary

On January 20, 2026, U.S. Senators Elizabeth Warren and Dick Durbin urged President Trump's administration to release records related to the Justice Department's investigation into Federal Reserve Chair Jerome Powell.
The senators argued that the probe misuses power and seeks to control the Federal Reserve.
Powell indicated he received subpoenas concerning his congressional remarks about Fed building renovations, implying the investigation pressures the central bank to lower interest rates.
The senators also requested information on communications involving Powell and other Fed officials.
The Supreme Court will hear arguments regarding Trump's attempt to fire Fed Governor Lisa Cook.