January 11, 2026 – DOJ subpoenas Fed over Powell testimony on renovation overruns

In Email/Dossier/Govt Corruption Investigations, Featured Timeline Entries by Katie Weddington

Jerome Powell’s latest statement is nothing more than a desperate attempt to save his own skin. After the criminal investigation into his misleading testimony about the Fed’s extravagant renovations became public, he now claims the DOJ is threatening the entire institution over interest rate policy. This is a classic deflection tactic.

The probe centers on whether Powell lied to Congress about the massive costs and scope of those headquarters upgrades, not on monetary policy decisions. By pivoting to accusations of pressure over rates, he tries to paint himself as a victim defending the Fed’s independence while conveniently sidestepping the real issue: his own potential perjury.

President Trump has every right to demand accountability from unelected bureaucrats who control the nation’s money supply. The Federal Reserve is not above the law, and refusing to answer legitimate questions from Congress should carry consequences. Powell’s attempt to flip the narrative only highlights how deeply entrenched the resistance to real oversight has become.

This escalation shows the establishment is rattled. If the investigation continues to gain traction, Powell will face mounting pressure to step down, opening the door for Trump to appoint a chair who actually prioritizes American workers, lower borrowing costs, and economic growth instead of protecting bloated budgets and insider perks.

Markets would welcome the change. Removing obstacles to sound policy would signal a return to fiscal discipline and reward productive investment. Powell’s spin cannot hide the facts: transparency is long overdue, and the current leadership has failed to deliver it. The momentum is clearly on the side of those demanding real reform.

The probe focuses on a $2.5 billion upgrade to the Fed’s Washington buildings, where costs ballooned from $1.9 billion, sparking a July 2025 criminal referral by Rep. Anna Paulina Luna over Powell’s congressional statements denying luxury features like a VIP dining room and premium marble—elements documents later referenced before being scaled back. Powell called the subpoenas pretexts amid clashes with President Trump on interest rates, while U.S. Attorney Jeanine Pirro said her office was ignored on questions about overruns. Republicans split, with some vowing to block Fed nominees until resolved, as markets showed mild reaction and Powell’s term ends in May 2026. (X.com/Trending)

The United States Attorney’s Office contacted the Federal Reserve on multiple occasions to discuss cost overruns and the chairman’s congressional testimony, but were ignored, necessitating the use of legal process—which is not a threat.

The word “indictment” has come out of Mr. Powell’s mouth, no one else’s. None of this would have happened if they had just responded to our outreach.

This office makes decisions based on the merits, nothing more and nothing less. We agree with the chairman of the Federal Reserve that no one is above the law, and that is why we expect his full cooperation.

From April 2024:

BREAKING, INSIDE THE FEDERAL RESERVE: Hidden Camera captures Principal Economist @federalreserve talking about Jerome Powell’s legacy as “somebody who held the line against like, Trump.” The influential agency responsible for maintaining a stable monetary system appears to not just be establishing interest rates, but to be setting policies for desired social outcomes.

“Under Powell, the Fed has changed to think about equity issues, like racial issues, think about wealth inequality as part of the mandate, as part of the things we are following. Think about climate change.” Aurel Hizmo, Principal Economist at the Federal Reserve, who prior to working at the Fed was an Assistant Professor @NYUStern and received his PhD in Economics from @DukeU, helps write speeches for Federal Reserve Board Chair Jerome Powell for the Federal Open Market Committee.

Hizmo says “Trump is just a crazy person” and conservatives are “dumb” as he describes to OMG’s American Swiper Citizen Journalist a politicized Federal Reserve Board where Powell has promoted ESG issues like climate change and “wants to be remembered in history” “as a savior.” But shhh…don’t tell anyone because Hizmo says: “I’m just really worried that I’m saying stuff that’s classified…It’s all classified.”