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Federal Reserve Chair Jerome Powell says he will keep serving as head of the central bank if his nominated successor, Kevin Warsh, is not confirmed by the time his term is up in May, as dictated by the law. Separately, Powell said he will not leave his Board of Governors position, which technically extends until early 2028, until the Department of Justice investigation of him is “well and truly over with transparency and finality.” Powell said during his Wednesday press conference that he would serve as “chair pro tem” if Warsh, President Donald Trump’s pick to take over the role,...

Government Oversight Committee...transcribed interview...jail guard...Jeffrey Epstein died... "West Bank" attacks by Israeli nationalist settlers on Palestinians... Debris from an attacking Ukrainian drone igniting a fire... explosions reported in Kiev... Israel reported...planning a major ground invasion... Cuba's Communist ruler...confirming talks with the United States... federal district judge quashing subpoenas...probe of...Jerome Powell... Richard Grenell leaving his post a director of the Trump Kennedy Center... US airstrikes in Baghdad tonight aimed at Iraqi groups... missile attack on Israel... Saudi Arabia...shot down six attacking Iranian drones... five US refueling planes damaged in an Iranian attack... 13 members of he US military killed so far......

A federal judge on Friday said he was blocking subpoenas that the Justice Department served to Federal Reserve Chair Jerome Powell in a probe purported to be about the management of the central bank's renovation. "A mountain of evidence suggests that the Government served these subpoenas on the Board to pressure its Chair into voting for lower interest rates or resigning," Judge James Boasberg, the chief judge on the U.S. District Court for Washington, D.C., wrote in a court filing. Boasberg continued: "On the other side of the scale, the Government has produced essentially zero evidence to suspect Chair Powell...

Independence at the Federal Reserve? Only sometimes, it seems.was rocked by Health and Human Services Secretary Robert F. Kennedy Jr. Then, the progressive lawmaker exposed her hypocrisy at a confirmation hearing involving Stephen Miran, President Donald Trump’s pick to join the Federal Reserve Board temporarily. While Warren shrieked in the upper chamber about central bank independence, she forgot to talk about her own list of demands to Fed Chair Jerome Powell.Elizabeth Warren Talks to Stephen MiranLast month, Fed Governor Adriana Kugler abruptly resigned from the Eccles Building, effectively vacating a seat at the powerful establishment. Days later, President Trump unveiled...

President Donald Trump on Friday formally nominated former Federal Reserve governor Kevin Warsh to succeed Jerome Powell as chair of the U.S. central bank, bringing a turbulent and politically charged transition at the Fed closer to resolution. The decision concludes a months-long search process that unfolded amid extraordinary pressure on the Federal Reserve, rising concerns over inflation persistence, and growing debate about the future independence of the central bank. Trump announced the nomination in a Truth Social post, praising Warsh as a steady and capable choice during a volatile period for monetary policy. “I have known Kevin for a long...

As President Trump has argued his case against Federal Reserve Chairman Jerome Powell in the public square, high-ranking members of the global banking community have rallied to Powell’s defense. Trump’s argument is that Powell is either incompetent or improperly partisan, as he dithered while a Democratic regime spent the country into oblivion and now he’s refused to accelerate needed reductions in interest rates during a Republican administration. In Trump’s eyes, there has to be a reason for that, and it’s unacceptable behavior. On top of that, Powell’s supervision of the renovation of the Fed’s national headquarters (the Eccles Building) has...

Tensions between a president and a Federal Reserve chairman are nothing new. Up until now, they may have reached a peak when Lyndon Johnson shoved William McChesney Martin at the LBJ ranch. Martin gave in a while later, another step into the inflationary quagmire from which the U.S. emerged only after Paul Volcker reasserted the Fed’s independence. However bad that Texas moment, it falls far short of the Department of Justice’s serving the Federal Reserve with grand jury subpoenas on Friday. They relate to testimony given to the Senate Banking Committee concerning an over-budget renovation project and come with the...

In the annals of political lawfare there’s dumb, and then there’s the criminal subpoena federal prosecutors delivered Friday to Federal Reserve Chairman Jerome Powell. President Trump would do himself and the country a big favor by firing those responsible for this fiasco. The subpoena relates to testimony Mr. Powell gave to Congress in June concerning renovations to the Fed’s office buildings in Washington, D.C. Those renovations raised a brief ruckus over the summer after Administration officials such as Russ Vought of the Office of Management and Budget accused the Fed of running over budget on a needlessly grandiose project. Fair...

Lost in the hysterical media bleating about a new criminal investigation into Jerome Powell is any attempt to report fairly on his alleged transgressions. The singular lens through which the investigation is being reported in many openly and not-so-openly left leaning outlets is that it is Donald Trump’s revenge after Powell refused to do as instructed and lower interest rates. But the aperture needs to be widened to see the full picture: the case is about more than the Chair of the Federal Reserve not bending the knee. It is about Powell’s competency as the nation’s chief money man after...

Powell confirmed in an unusual direct video statement Sunday evening that federal prosecutors have opened a criminal investigation related to his Senate Banking Committee testimony on the renovation of Fed office buildings.

Federal Reserve Chair Jerome Powell said Sunday that the Justice Department subpoenaed the central bank Friday with the threat of a criminal indictment, the latest move in a yearlong pressure campaign from the Trump administration. Powell said the threatened indictment related to his testimony before the Senate in June about the renovation of Federal Reserve office buildings. "No one — certainly not the chair of the Federal Reserve — is above the law," Powell said. "But this unprecedented action should be seen in the broader context of the administration's threats and ongoing pressure."

Federal prosecutors have opened a criminal investigation of Federal Reserve Chairman Jerome Powell, The New York Times reported on Sunday evening, citing officials briefed on the matter. The probe is eyeing “the central bank’s renovation of its Washington headquarters and whether Mr. Powell lied to Congress about the scope of the project,” the Times reported, citing those officials. The investigation is being overseen by the U.S. Attorney’s Office for the District of Columbia, according to the newspaper. That office is led by U.S. Attorney Jeanine Pirro, a former New York state prosecutor and Fox News host, who was appointed to...

Federal Reserve Chairman Jerome Powell declined Wednesday to comment on the ongoing legal battle between Federal Reserve Governor Lisa Cook and the Trump administration over her role at the central bank. "I see it as a court case that it would be inappropriate for me to comment on," Powell said when asked at the conclusion of the two-day Federal Open Market Committee (FOMC) meeting. The Federal Reserve has previously acknowledged the potential legal feud and wrote in an Aug. 26 statement that the Fed will "abide by any court decision." On Tuesday, the Trump administration vowed to take its fight...

It’s time to call a spade a spadeThe notion that the Fed is some kind of sterling institution needs to be put to bed. This is particularly true of the Powell Fed which has experienced multiple scandals involving criminal activity. The fact that no one went to jail because “laws are for little people” doesn’t absolve the Fed.Let’s wind back the clocks.During the pandemic, when millions of people were losing their jobs, despairing of their futures, and terrified of dying, senior Fed officials were making MILLIONS of dollars trading on insider information based on Fed policy decisions.Specifically, three Fed Presidents,...

The director of the Federal Housing Finance Agency has made the removal of the Fed chair his personal mission.At a meeting with House Republicans this month, President Trump waved a draft of a letter firing the Federal Reserve chair, Jerome H. Powell.The letter, which rattled Washington and global markets, was not written by Mr. Trump or his core economic advisers. Instead, it was drafted by Bill Pulte, the director of the Federal Housing Finance Agency, who has used his perch and his social media prowess to become the Trump administration’s loudest critic of Mr. Powell.The campaign against Mr. Powell has...

President Trump on Thursday toured the Federal Reserve headquarters renovations, which have ballooned over one billion dollars over budget. Powell is under fire for the cost of renovating the Fed’s DC headquarters. The cost ballooned from $1.9 billion to $2.5 billion. He currently also faces a criminal referral to the Justice Department from Congresswoman Anna Paulina Luna (R-FL). Trump announced earlier that he was joined by Senator Tim Scott, Senator Thom Tillis, OMB Director Russ Vought, Chairman of Fannie Mae and Freddie Mac, Bill Pulte, my Appointees to the National Capital Planning Commission, James Blair and Will Scharf, and various...

Another stunt… Fed Chair Jerome Powell pulled another shady stunt after Trump officials requested a tour of the so-called $2.5 billion in building ‘renovations.’ On Friday Chairman of the Board of Fannie Mae and Freddie Mac, Bill Pulte, revealed Jerome Powell offered a tour of the renovations on Friday night when no one was there. On Monday, Trump officials were declined a request for an on site visit to tour the building renovations and instead were given a “virtual site visit.” “Instead of granting us our site visit, the Fed today released a “virtual site visit” video,” Trump White House...

BREAKING: 🚨 Florida Congresswoman Anna Paulina Luna issues CRIMINAL REFERRAL to the Department of Justice on Fed Chair Jerome Powell.— E X X ➠A L E R T S (@ExxAlerts) July 21, 2025

On Thursday, Chairman of the Board of Fannie Mae and Freddie Mac, Bill Pulte, said Fed Chair Jerome Powell may be criminally referred to the Justice Department for alleged perjury about the $2.5 billion building renovation plan. “I am told by very reliable Congressional sources that there may be a criminal referral coming from one or more Congress members to the DOJ for Jay Powell’s alleged perjury about the $2.5BN building,” Pulte said on X. I am told by very reliable Congressional sources that there may be a criminal referral coming from one or more Congress members to the DOJ...

US Fed chair Jerome Powell is reportedly getting fired, Florida Congresswoman Anna Paulina Luna said on X (formerly Twitter). “Hearing Jerome Powell is getting fired! From a very serious source,” she said, adding, “I’m 99% sure firing is imminent.” The Trump-Powell tiff This comes amid Trump's repeated displeasure with Powell, which stems from the POTUS repeatedly urging the Fed to cut its key rate, which he says would save U.S. taxpayers billions of dollars on interest costs on the federal government’s massive debt, and boost the economy. The fight has threatened the Fed's traditional independence from politics, though, since the...