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JUST IN: FEDS OPEN CRIMINAL PROBE INTO POWELL AS TRUMP–FED WAR ESCALATES
JUST IN: FEDS OPEN CRIMINAL PROBE INTO POWELL AS TRUMP–FED WAR ESCALATES
Federal prosecutors have opened a criminal investigation into Fed Chair Jerome Powell over the Fed’s $2.5B HQ renovation and his June testimony to Congress about it.
Powell fired back publicly, saying the probe is political retaliation for refusing White House pressure to cut interest rates and a direct threat to Fed independence.
Trump says he didn’t know about the investigation but has spent months attacking Powell, threatening lawsuits, and hinting he should control rate decisions.
The probe hits just as Trump prepares to name Powell’s replacement, with senators from both parties warning they may freeze Fed nominations.
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