The 1986 reactor explosion remains the worst nuclear accident in history, while the site continues to face modern security risks...
Read More
International-News
Powell under investigation for Fed headquarters renovation
The Federal Reserve chairman speaks of an investigation used as a pretext after his clash with Trump over interest rates
Powell under investigation. Federal Reserve Chairman Jerome Powell is the subject of a federal criminal investigation related to the $2.5 billion renovation of the central bank’s headquarters in Washington, D.C., according to The New York Times. Powell himself called the investigation a pretext, arguing that the Fed set interest rates “based on the best assessment of what would serve the public,” and not following the preferences of President Donald Trump.
In a video statement released yesterday, Powell explained that the Department of Justice subpoenaed the Federal Reserve for information about the renovation. In the video, shared on X, he specified that on Friday the Fed received subpoenas from a grand jury, with the risk of criminal charges in connection with his testimony before the Senate Banking Committee last June. That testimony also concerned the multi-year renovation project of the central bank’s historic buildings.
The context remains marked by the clash with the White House. Trump has repeatedly called for interest rate cuts and publicly criticized Powell when the Fed decided not to intervene. In the past, the president has called Powell an “idiot” and accused him of making it more difficult, especially for young people, to access the real estate market.
According to Powell, the central issue is not just the legal aspect. “The question is whether the Fed will continue to set rates based on economic evidence and conditions, or whether monetary policy will be driven by political pressure or intimidation,” he said. He also reiterated that no one is above the law, but called the initiative “unprecedented” and to be seen in the context of ongoing pressure from the administration.
Powell added that the Fed has always informed Congress about the restructuring project through testimony and public communications, rejecting the idea that the investigation is linked to specific irregularities. For the central bank chairman, it is rather a move that risks affecting the institution’s independence.
THE LATEST NEWS
Trump posts suspect image after Washington shooting arrest
26 Aprile 2026
President says attacker acted alone; FBI urges public to share information as investigation expands. Donald Trump shared on Truth Social...
Read More
US Special Forces Soldier Arrested Over Maduro Operation Insider Trading Scheme
24 Aprile 2026
Federal prosecutors say the servicemember used classified intelligence tied to “Operation Absolute Resolve” to place high-stakes bets on Polymarket, netting...
Read More
Mojtaba Khamenei seriously injured in Israeli strike on residence compound
23 Aprile 2026
The Supreme Leader’s son, Mojtaba Khamenei, sustained severe injuries in an Israeli attack on his residential complex on February 28,...
Read More
Kratom boom raises alarm as poison center cases surge in the US
23 Aprile 2026
Study finds 65-fold increase in exposures and growing number of severe medical outcomes linked to plant-based psychoactive substance A plant-derived...
Read More
Jet fuel crisis forces flight cuts as summer travel nears
22 Aprile 2026
Lufthansa cancels 20,000 short-haul flights, while Ryanair warns of rising costs and market instability A growing jet fuel crisis is...
Read More
(Photo: © AndKronos)
