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Fed Chair Powell Faces DOJ Probe Amid Political Pressure Over Interest Rates

Fed Chair Powell Faces DOJ Probe Amid Political Pressure Over Interest Rates

Author:

Global Cryptocurrency

Published:

2026-01-12 13:22:02

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BTCCSquare news:

Federal Reserve Chair Jerome Powell confirmed the U.S. Department of Justice has issued grand jury subpoenas in a criminal investigation tied to his 2025 Senate testimony on the Fed's $2.5 billion headquarters renovation. Powell suggested the probe reflects political pressure over interest rate policy during the TRUMP administration.

Former President Donald Trump denied involvement, calling Powell ineffective while distancing himself from the DOJ's actions. Markets remain largely unfazed, pricing low odds of Powell's early departure as his term runs through May 2026.

The investigation centers on Powell's statements to the Senate Banking Committee, with the Fed chair claiming DOJ prosecutors threatened criminal indictment. This development throws fresh scrutiny on central bank independence during election-season political maneuvering.

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