Federal Reserve Chair Powell Under Criminal Investigation

BlockBeats News, January 12th, according to The New York Times, US Federal prosecutors have opened a criminal investigation into Federal Reserve Chair Jerome Powell. The investigation focuses on the renovation project at the Federal Reserve's Washington headquarters, marking an escalation of the long-standing conflict between President Trump and the Federal Reserve Chair.

Trump has previously attacked Powell for refusing to significantly cut interest rates and has threatened to dismiss him multiple times. In an interview last week, Trump said he had already decided who he wants to replace Powell as Federal Reserve Chair and is expected to announce this decision soon. Powell's term as Federal Reserve Chair is set to end in May, but his term as a Fed governor will continue until January 2028. He has not yet revealed whether he plans to stay at the central bank beyond this year.