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Pirro on Powell probe: ‘None of this would have happened if they had just responded to our outreach’

U.S. Attorney Jeanine Pirro said subpoenas were necessary after the Federal Reserve ignored requests about $700 million renovation overruns, emphasizing fact-finding over prosecution.

  • On Monday, U.S. Attorney Jeanine Pirro said the Federal Reserve ignored outreach, prompting prosecutors to serve grand jury subpoenas seeking testimony from Jerome Powell, Federal Reserve Chair.
  • The long-running renovation of the Marriner S. Eccles Federal Reserve Board Building and 1951 Constitution Avenue Building became a $2.5 billion project and ran about $700 million over budget, according to a person familiar.
  • Republican lawmakers, including Sen. Thom Tillis of North Carolina and Sen. Lisa Murkowski of Alaska, cited Rep. Anna Paulina Luna, R-Fla.'s July referral and questioned the Justice Department's motives, raising Federal Reserve independence concerns.
  • Powell said the probe raises whether the Federal Reserve will set interest rates based on evidence or be directed by political pressure, amid President Donald Trump's year-long efforts to criticize him.
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abc News broke the news in United States on Tuesday, January 13, 2026.
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