Fed Chair Powell under criminal probe by federal prosecutors: Report

Core Viewpoint - A criminal investigation has been initiated against Federal Reserve Chairman Jerome Powell regarding potential misconduct related to the renovation of the Fed's Washington headquarters and possible false statements made to Congress [1][2]. Group 1: Investigation Details - The investigation is focusing on whether Powell lied to Congress about the scope of the renovation project [2]. - The U.S. Attorney's Office for the District of Columbia is overseeing the investigation, led by U.S. Attorney Jeanine Pirro, who was appointed by President Donald Trump [2]. Group 2: Political Context - President Trump has publicly criticized Powell for not reducing interest rates as quickly or as much as he has requested since taking office in January 2025 [3].