Bipartisan outcry as DOJ targets Fed Chair Powell over $2.5 billion renovation

Tonight, Federal Reserve Chair Jerome Powell faces mounting pressure as a Department of Justice probe—supported by the Trump administration—focuses on the Fed’s costly $2.5 billion headquarters renovation. Powell claims the criminal investigation is politically motivated, tied to disagreements over interest rates, while President Trump continues to criticize Powell for not lowering rates quickly enough. Lawmakers from both parties are speaking out, warning that the probe threatens the independence of the Federal Reserve. The White House, meanwhile, denies any ulterior motive.