Fed Chair Jerome Powell speaks out over criminal probe from Trump’s DOJ

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Holly Bishop | Monday 12 January 2026 15:06 GMT

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Jerome Powell has said that the US Federal Reserve is being threatened with criminal indictment by the Trump administration.

In a video announcement, the Fed Chair said that the Department of Justice (DoJ) is serving the agency with grand jury subponeas over comments he made to Congress last June in relation to renovation cost over-runs at the Federal Reserve buildings in Washington DC.

Fed Chair Jerome Powell speaks out over criminal probe from Trump’s DOJ

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