Powell says the Fed was served DOJ subpoenas over building renovations
The subpoenas threatened a criminal indictment related to Jerome Powell's testimony before the Senate Banking Committee in June 2025, according to the Fed chair.
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The subpoenas threatened a criminal indictment related to Jerome Powell's testimony before the Senate Banking Committee in June 2025, according to the Fed chair.
Meanwhile, Federal Reserve Chairman Jerome Powell is now facing a criminal investigation. Bradley Blackburn reports.
Federal prosecutors claim Powell lied to Congress when he testified last year about the cost of the renovation of the Fed’s D.C. headquarters.
Prosecutors claim Powell lied to Congress when he testified before senate banking committee last year when he testified about the cost of the feds' D.C. headquarters.
Federal Reserve Chair Jerome Powell has been under pressure from President Trump to lower the central bank's benchmark interest rate.
The battle came as the president sparred with the head of the federal reserve in a rare presidential visit to their headquarters.
The House will soon take up the package of spending cuts narrowly approved by the Senate overnight, that slashes previously approved funding for foreign aid as well as PBS and NPR. Lawmakers are also reacting to President Trump's latest comments on whether he'll try to oust Federal Reserve Chair Jerome Powell, whom he has repeatedly criticized for not lowering interest rates.
President Trump has lashed out against Federal Reserve Chair Jerome Powell for weeks.
President Donald Trump is escalating his pressure campaign to get the Federal Reserve chairman to either lower interest rates or quit his post by targeting the expensive renovation at the central bank’s headquarters.
The Federal Reserve kept its key interest rate unchanged at its May meeting on Wednesday, brushing off President Trump’s demands to lower borrowing costs.
President Trump says he's eager to see Federal Reserve chair Jerome Powell go. It comes amid the president's ongoing frustration over interest rates, and after Powell said tariff uncertainty could pose a risk to the U.S. economy.
Stocks suffered their worst crisis since COVID in March 2020, as the Dow Jones plunged more than 2,200 points on Friday, over concerns about the fallout from President Trump’s tariffs. The NASDAQ and S&P lost nearly 6 percent. Posting on social media as he went golfing, the president called this “a great time to get rich.” But in a rare move, President Trump is calling on the Federal Reserve to cut interest rates. Fed chairman Jerome Powell warned on Friday that tariffs could do long-term harm to the economy.
Fed Chair Jerome Powell cites "high uncertainty" around the impact of Trump administration tariffs on key trading partners.
The Federal Reserve on Wednesday moved to lower its benchmark rate by 0.25 percentage points, but said it plans fewer cuts in 2025.
The Federal Reserve just lowered its benchmark rate by 0.50 percentage points. Here's how the move could impact your finances.
The Fed's decision will lower borrowing costs from a 23-year high as the central bank pivots to shoring up economic growth.
Federal Reserve Chair Powell, speaking at a conference in Jackson Hole, Wyoming, said the timing and pace of rate cuts will depend on economic data.
The rise in the federal funds rate, which is what banks charge each other for overnight loans, comes as several significant pieces of economic data are released this week.
A Schaumburg man is charged with first degree murder in the death of a woman he had been in a relationship with, in an hours-long attack that prosecutors say was recorded.
The Volo Museum got a traffic ticket for one of its vehicles in the mail but the thing is, the museum says the car hasn't moved in years.
A large pothole has shut down the middle lane of eastbound I-80 on the bridge at Raynor Avenue, slowing traffic during rush hour.
An ATM was stolen at a smash and grab in Chicago's Archer Heights neighborhood early Monday morning, police said.
A man was seriously injured in a shooting at a Back of the Yards home early Monday morning, Chicago police said.
Democratic Sen. Mark Kelly of Arizona said the Trump administration's $1.5 trillion budget request for defense spending is "outrageous."
The Trump administration announced a major expansion of its denaturalization campaign targeting foreign-born American citizens accused of fraudulently obtaining U.S. citizenship.
Defense Secretary Pete Hegseth said in a statement that the documents "have long fueled justified speculation — and it's time the American people see it for themselves."
Three of the nation's major scholarly groups challenged the Trump administration's cuts to humanities grants.
Since his second term started, President Trump has introduced a flurry of initiatives aimed at taming the excesses of the pharmaceutical industry.
Chatham residents say they're losing a vital resource as Walgreen's prepares to close its store near 86th and Cottage Grove.
According to AAA, the average price of a gallon of regular gas in Chicago was $5.17 on Friday, up from $3.75 a year ago.
Peoples Gas and North Shore Gas Company customers are likely to see minor credits on their bills for the next three years, thanks to a $125 million settlement agreement announced Thursday by Illinois Attorney General Kwame Raoul.
Chicago gas prices are spiking as the war with Iran drags on, with regular gas nearing $6 in some spots and premium already selling for more than $7 in some places.
In the legal venue of anti-trust enforcement, the state is not taking on the Trump administration, but rather filling a void that state officials say the Trump administration has vacated.
An American on the repatriation flight began showing symptoms of hantavirus and another "tested mildly PCR positive for the Andes virus," the Department of Health and Human Services says.
More than 100 people from a cruise ship dealing with an outbreak of the rare and deadly hantavirus are set to be disembarked.
The largest U.S. health insurer said it will eliminate approval requirements for some treatments, including select outpatient surgeries and other procedures.
Thirty years ago, Advocate Children's Hospital created a specialized team to transport the smallest patients to get life-saving care. On the anniversary of the Neonatal Pediatric Transport Team, they unveiled some a new ambulance.
The second-largest physicians' group in the U.S. has issued a surprising switch in breast cancer screening recommendations.
U.S. prosecutors allege a man with multiple aliases used the name of the famed Astor family to scam a Mexican billionaire out of $450 million.
Thousands of people marched from the West Loop to Daley Plaza in downtown Chicago on Friday for May Day, with activists calling for workers' rights, stronger labor protections, and increased school funding.
A $170 million-plus plan announced this week will redevelop the Water Tower Place mall on the Magnificent Mile.
The Holiday Club in Chicago's Buena Park neighborhood will soon be going out of business, as the building that houses the popular bar is set to be torn down.
At a meeting on Tuesday, the Lincolnwood Village Board approved a pre-development agreement with the mall, providing a roadmap with the property owner for further preparations and government approvals for redevelopment.
David Allan Coe also had hits with "You Never Even Called Me By My Name" and "The Ride" among others.
Some youngsters got a behind-the-scenes look at the magic of making opera Sunday at the Lyric Opera of Chicago.
Matt DeCaro, an actor who was a familiar face on the Chicago stage for many years, died this weekend.
Jake was at the funeral for one of his closest friends when he learned of his parents' deaths, he said.
Tickets for the 2026 Ravinia Festival season went on sale Thursday morning.
School and work can make our lives feel go, go, go all the time. For your mental health, take time to slow down this summer and enjoy your hobbies, family and friends.
An ATM was stolen at a smash-and-grab in Chicago’s Archer Heights neighborhood early Monday morning, police said.
A man was seriously injured in a shooting at a Back of the Yards home early Monday morning, Chicago police said.
A Frontier plane fatally struck a pedestrian in Denver as it was taking off for Los Angeles Friday night, according to the airline and Denver International Airport.
Burglars smashed the window of the Beetle Bar and Grill in Ukrainian Village early Monday morning and stole the ATM from inside, Chicago police said.
Cook County Crime Stoppers is offering a $10,000 reward to help solve a double homicide in East Garfield Park.
A Schaumburg man is charged with first degree murder in the death of a woman he had been in a relationship with, in an hours-long attack that prosecutors say was recorded.
The Volo Museum got a traffic ticket for one of its vehicles in the mail but the thing is, the museum says the car hasn't moved in years.
A large pothole has shut down the middle lane of eastbound I-80 on the bridge at Raynor Avenue, slowing traffic during rush hour.
An ATM was stolen at a smash and grab in Chicago's Archer Heights neighborhood early Monday morning, police said.
Monday marks one year since Illinois enacted Karina's Law — legislation aimed at taking firearms out of the hands of people accused of domestic abuse.
Tenants at a South Shore apartment building said they've noticed their rent fluctuating by hundreds of dollars a month due to a change in how their utility billing system is set up.
A man from the Chicago suburbs lost $69,000 of his savings to a scam by a thief using an AI-generated U.S. Marshals badge to intimidate him.
Illinois lawmakers are trying to decide what should happen when artificial intelligence leads to serious destruction or even death, and two of the most influential AI companies in the world are backing opposing state bills trying to answer that question.
Rideshare drivers say it's getting difficult to continue working as gas prices surpass $6 in the city.
It's been quite a week for Bryson Graham—being hired as the new executive VP of basketball operations on Monday, to landing the No. 4 overall pick in the draft.
Jacob deGrom tied his season high with 10 strikeouts while earning the 1,900th of his career, Evan Carter hit a two-run homer in the eighth inning and the Texas Rangers beat the Chicago Cubs 3-0 on Sunday.
White Sox starting pitcher Davis Martin allowed one run on three hits in six innings.
The Fire (5-4-2) avoided a shutout when Hugo Cuypers scored in the 87th minute to extend his goal-scoring streak to nine matches.
The White Sox improved to 18-21 on the season. They were 11-28 after 39 games last year.
One person was killed and two others were seriously wounded in a shooting late Friday morning in the Greater Grand Crossing neighborhood on the South Side of Chicago.
Police across Chicago and the northern suburbs were investigating a string of overnight smash-and-grab burglaries targeting businesses.
A teenager has been charged with shooting and killing his father inside their home in southwest suburban Oak Lawn following an argument on Monday.
The Mexican navy helped rescue shipwrecked sailors and retrieve bales of illicit drugs that had been dumped into the ocean.
A man was killed on Tuesday night in a shooting less than a block from an elementary school in the West Englewood neighborhood.
