US EditionFederal prosecutors open criminal investigation into the Fed and Jerome Powell
The Justice Department's criminal probe targets Fed Chair Powell's Senate testimony on a $2.5 billion renovation amid alleged political pressure on monetary policy, Powell said.
- On Friday, the Department of Justice served grand‑jury subpoenas to the Federal Reserve and its chair, opening a criminal investigation overseen by Jeanine Pirro, U.S. Attorney in D.C., The New York Times reported.
- During a Senate hearing last June, Powell discussed the renovation project, disputing claims it exceeded $3 billion and saying it was closer to $2.5 billion and self-funded by the Federal Reserve.
- Powell wrote `That testimony concerned in part a multi-year project to renovate historic Federal Reserve office buildings`, emphasizing `I have deep respect for the rule of law and for accountability in our democracy` to defend the investigation, which he called `pretexts`.
- On Jan 12, the U.S. dollar fell and gold rose to a record after the report as the U.S. dollar index dropped 0.3% to 98.899 and gold hit US$4,563.61 an ounce.
- Powell's second term ends in May, and the White House could nominate a successor next month, while Sen. Thom Tillis, R-N.C., said he will withhold votes until the legal matter is resolved.
345 Articles
345 Articles
U.S. Federal Reserve Chair Powell says DOJ has subpoenaed central bank, threatens criminal indictment
U.S. Federal Reserve Chair Jerome Powell said Sunday the U.S. Department of Justice has served the central bank with subpoenas and threatened it with a criminal indictment over his testimony this summer about the Fed’s building renovations.
Washington. Federal Reserve President Jerome Powell reported yesterday that the Department of Justice sent subpoenas to the central bank and threatened to charge him with a criminal charge for his testimony about the renovation of the Fed building, which cost $2.5 billion.
Accused of fraud, the US central bank is summoned by the Ministry of Justice announced its President Jerome Powell on 11 January. He denounces a threat emanating directly from Donald Trump.
Ex-GOP rep calls for party rebellion against Trump until one issue is ‘throttled back’
A former GOP representative has called on the party to rebel against the recent economic decisions made by Donald Trump. Adam Kinzinger urged the party to push back against the decision of one Trump appointed investigator to open an investigation into the Federal Reserve chair, Jerome Powell. The New York Times reported on Sunday that Jeanine Pirro, U.S. Attorney for Washington, D.C., opened an investigation into Federal Reserve Chairman Jerome …
The dispute between US President Donald Trump and Federal Reserve Chairman Jerome Powell is entering its next phase. The US Department of Justice on Sunday launched an investigation into Powell over a controversial renovation of the bank's building, which he discussed before Congress in June. According to Powell, this is an attempt by the president to gain more influence over the Fed and monetary policy, for which the White House chief has long …
Political pressure on the US Federal Reserve is mounting. Fed Chair Powell has made public investigations against him and the central bank concerning alleged false statements. He maintains, however, that this is a pretext.
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