News
DOJ opens criminal investigation of Fed Chair Jerome Powell over building renovation testimony
Jan 12, 2026
Key Points
- The Department of Justice opened a criminal investigation of Federal Reserve Chair Jerome Powell, serving grand jury subpoenas that threaten potential criminal indictment.
- The investigation centers on Powell's June congressional testimony regarding ongoing renovations of the Federal Reserve's headquarters.
- Powell rejected the notion that the DOJ action was driven by his testimony or the renovation project itself.
Summary
The Department of Justice has opened a criminal investigation of Federal Reserve Chair Jerome Powell, serving the Fed with grand jury subpoenas that threaten a potential criminal indictment. The investigation centers on Powell's June congressional testimony regarding ongoing renovations of the Federal Reserve's headquarters.
Powell released a statement Sunday evening rejecting the notion that the DOJ action was driven by his testimony or the renovation project itself. He also released a video addressing his account of events.