U.S. federal prosecutors launch criminal investigation into Federal Reserve Chairman Jerome Powell.

The U.S. Attorney's Office for the District of Columbia has launched a criminal investigation into Federal Reserve Chairman Jerome Powell. The investigation focuses on the renovation of the Fed's Washington headquarters and whether Powell made false testimony to Congress regarding the project's size. Approved by Attorney Jeanine Pirro in November 2025, the investigation includes an analysis of Powell's public statements and a review of spending records. The renovation project, budgeted at approximately $2.5 billion, is currently estimated to be $700 million over budget. Powell previously denied at congressional hearings that the project included luxury features such as private elevators and marble finishes, stating that some functions had been reduced during the project's evolution. The Federal Reserve has declined to comment on the matter.