Criminal Investigation Launched Against Jerome Powell: What Did the Federal Reserve Chair Do?

Key Highlights

• Federal prosecutors in Washington, D. C. have opened a criminal investigation into Jerome Powell.
• The investigation centers on whether Powell misled Congress about a renovation project for the Federal Reserve's headquarters.
• The Justice Department has issued subpoenas related to Powell's public testimony before Congress.
• The investigation was authorized in November 2025 by US Attorney Jeanine Pirro.
• Powell emphasized that no one is above the law in his response to the investigation.