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.
After more than 80 years, there will be no Ann Sather restaurant location in the 900 block of West Belmont Avenue in Chicago's Lakeview community, effective in June.
Two people were rushed to the hospital from the scene of a fire in Chicago's South Shore neighborhood early Sunday morning.
A woman appeared in court Sunday on charges that she stabbed her 2-month-old daughter to death in a home on Chicago's Southwest Side.
One person was killed and four others were injured in a multi-vehicle crash on the Eisenhower Expressway in Chicago's western suburbs early Sunday.
A Chicago woman was killed, and three other people were injured, in a crash on Interstate 65 in Crown Point, Indiana, late Saturday night.
In a move aimed at curbing the growing problem of "teen takeovers," D.C. U.S. Attorney Jeanine Pirro is threatening to bring charges against parents if their teens violate the local curfew.
State Rep. Josh Turek and State Sen. Zach Wahls squared off Thursday over which candidate can flip Iowa's open Republican-held Senate seat, as millions in outside spending reshapes the primary's final stretch.
Sens. Tammy Duckworth of Illinois and Tammy Baldwin of Wisconsin say their concern is there may be more emergency exit doors than flight attendants in the event of an evacuation.
Ald. Jim Gardiner (45th) is suing the city of Chicago, its inspector general's office, and the Board of Ethics, accusing them of defamation.
The Supreme Court has maintained mail access to the abortion pill mifepristone, setting aside for now a lower court order that blocked abortion providers from prescribing the widely used drug through telehealth and shipping it to patients.
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.
Engineers at Northwestern University have created a wireless polygraph to detect stress.
Chicago Mayor Brandon Johnson on Wednesday announced an expansion to the city's CARE Program, a specialized team that responds to mental health crises without police.
A Texas couple is filing a lawsuit accusing the AI company of guiding their teenage son in using drugs, resulting in a fatal overdose.
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.
After more than 80 years, there will be no Ann Sather restaurant location in the 900 block of West Belmont Avenue in Chicago's Lakeview community, effective in June.
Flight attendants at Chicago-based United Airlines have approved a new labor contract, marking their first pay increases in six years.
The Chicago Fire FC announced Wednesday morning that its new stadium in the South Loop will be named McDonald's Park.
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.
The Chicago-born house music track, which began as a personal poem in 1982 and became a defining anthem of the city's house music scene, has been selected for permanent preservation by the Library of Congress.
The Library of Congress revealed this year's list of 25 recordings to be preserved for future generations on the National Recording Registry.
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.
Officials from Pakistan are spending the weekend in Tehran trying to negotiate a peace deal between the U.S. and Iran, while the U.S.S. Gerald R. Ford aircraft carrier has returned home to Norfolk, Virginia. Wendy Gillette reports.
Suzanne Le Mignot’s cats, Luna and Luce, left a layer of fur on her hardwood floor in the living room, while Mary Kay Kleist introduces us to Fr. Daniel Kelly, who is celebrating his platinum jubilee as a priest.
The World Health Organization has declared the Ebola outbreak in the Democratic Republic of the Congo and Uganda to be a global health emergency.
Meteorologist Mary Kay Kleist has your 7 a.m. First Alert Weather forecast for Sunday, May 17, 2026.
Jackie Kostek spent the morning at the starting line for the race.
One person was killed and four others were injured in a multi-vehicle crash on the Eisenhower Expressway in Chicago's western suburbs early Sunday.
One person was killed and seven were injured early Sunday morning in a four-vehicle crash that shut down the Eisenhower Expressway on Chicago's Near West Side.
A woman appeared in court Sunday on charges that she stabbed her 1-year-old daughter to death in a home on Chicago's Southwest Side.
After more than 80 years, there will be no Ann Sather restaurant location in the 900 block of West Belmont Avenue in Chicago's Lakeview community, effective in June.
Two people were rushed to the hospital from the scene of a fire in Chicago's South Shore neighborhood early Sunday morning.
Pothole complaints continue everywhere, but especially on one street in the Pullman neighborhood on the South Side of Chicago.
People in Lincoln Park and Lakeview have rallied against a plan to build a new industrial ComEd electrical substation in their neighborhoods, pushing local and state leaders to get involved.
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.
Murakami added his 17th homer in the fifth, a two-run shot to center off Jameson Taillon that traveled an estimated 428 feet.
Chris Brady had six saves for Chicago and has six shutouts this season.
Carson Kelly hit a tiebreaking single in the seventh inning and drove in four runs as the Chicago Cubs stopped a five-game White Sox winning streak with a 10-5 victory over their crosstown rival.
Randal Grichuk hit a two-run homer and drove in four runs, leading the Chicago White Sox to a 6-2 victory over the Kansas City Royals.
Ian Happ hit a long home run and five Chicago Cubs pitchers combined for a 2-0 shutout of the Atlanta Braves that snapped a four-game losing streak.
A woman appeared in court Sunday on charges that she stabbed her 2-month-old daughter to death in a home on Chicago's Southwest Side.
A motorcyclist was found with a gunshot wound on the Eisenhower Expressway on Chicago's West Side Saturday night.
The ages of the victims range from 19 to 55, according to Chicago police.
A Davison Township police chief released body camera video showing how a senior "water wars" prank brought an officer within milliseconds of opening fire on a student.
A man was found shot to death Thursday morning in Chicago's West Garfield Park neighborhood.
