DOJ Opens Criminal Probe Into Federal Reserve Chairman Jerome Powell
Published 12 hours ago
on January 11, 2026
By Cullen McCue
Federal Reserve Chairman Jerome Powell confirmed in a video statement Sunday that the U.S. Department of Justice had opened a criminal investigation centered on testimony he gave about a $2.5 billion renovation of its Washington, D.C. headquarters that has gone far over budget.
Work on the project began several years ago and includes structural improvements, modernization of facilities, and enhancements to security and operational efficiency. The Federal Reserve has described the renovations as necessary to maintain the functionality and safety of its headquarters, which houses critical operations for the nation’s central banking system.
During a June 2025 appearance before the Senate Banking Committee, Powell addressed questions about the project’s expenses and timeline, claiming that the costs were justified and transparently managed.
According to details from the investigation, federal prosecutors are reviewing Powell’s public statements, congressional testimony, and internal spending records related to the renovation. The inquiry was reportedly approved in November 2025 by U.S. Attorney Jeanine Pirro, who oversees the District of Columbia office.
On Friday, the DOJ served the Federal Reserve with grand jury subpoenas, which included threats of potential criminal indictment tied to Powell’s June testimony. Officials familiar with the matter indicate that the focus is on determining if any misrepresentations occurred regarding the project’s details.
more
https://trendingpoliticsnews.com/just-in-doj-opens-criminal-probe-into-federal-reserve-chairman-jerome-powell-cmc/
