U.S. federal prosecutors launch criminal investigation into Federal Reserve Chair Jerome Powell

CoinNetwork · 2026-01-12T00:14:01+00:00

The District of Columbia Attorney General's Office has launched a criminal investigation into Federal Reserve Chairman Powell, focusing on whether he provided false testimony to Congress regarding renovation projects. The project has a budget of $2.5 billion, with an expected overspend of $700 million. The investigation includes an analysis of his public statements and expenditure records. The Federal Reserve has not commented on the matter.

CoinNetwork

2026-01-12 00:14:01

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CoinWorld News reports that the U.S. Attorney’s Office for the District of Columbia has launched a criminal investigation into Federal Reserve Chair Jerome H. Powell. The investigation focuses on the renovation project at the Federal Reserve Washington headquarters and whether Jerome H. Powell committed perjury before Congress regarding the project’s scope. The investigation was approved by Prosecutor Jeanine Pirro in November 2025 and includes an analysis of Jerome H. Powell’s public statements and a review of expenditure records. The renovation project has a budget of approximately $2.5 billion, with current estimates indicating an overrun of $700 million. Jerome H. Powell previously denied at a congressional hearing that the project included luxury amenities such as private elevators and marble decorations, stating that the project plans have evolved and some features have been cut. The Federal Reserve has currently refused to comment on this matter.

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