Fed Chair Facing DOJ Probe Over Spotless DC Renovation Integrity

KEY POINTS

•Fed Chair Jerome Powell announced on January 11, 2026, that the DOJ subpoenaed the Fed over alleged perjury regarding building renovations.
•The Trump administration links the probe to Powell’s independent interest rate setting despite White House preferences.
•Ahead of the first 2026 Fed meeting, markets showed mixed signals with Nasdaq up nearly 1%, gold rallying near $5300, and Europe dipping slightly.

On January 11, 2026, Jerome Powell, the ever-plaid-shirt-mild Fed Chair, found himself subpoenaed by a grand jury amid a Trump DOJ probe alleging perjury about central bank construction renovations in Washington, DC. The White House apparently isn’t thrilled that Powell sets interest rates on economic science rather than presidential preference—because who wouldn’t investigate a rate cutter over floor plans? Amid Powell’s letter walk-through of Fed building budgets matching his testimony, the Fed’s open market committee eyes one rate cut after last fall’s thrice-dished three quarter-point slices. Meanwhile, markets wake with Nasdaq’s tech party leading a 1% pre-Fed lift, gold hitting nearly $5300/ounce in a bling-bling rally, and European stocks feeling as lukewarm as a room with no air-conditioning.

Share the Story

(1 of 3)

Mockingbird News

@MockingbirdNews · now

Jerome Powell under DOJ scrutiny for decorating Fed HQ honestly. Apparently, honesty now equals criminal conspiracy. Who knew blueprints held such political power?

180/280 charactersReady to post