LESS NEWS. MORE CONTEXT. — BUILDING TRUST. DELIVERING CREDIBILITY.
2026
FEDERAL PROSECUTORS LAUNCH INVESTIGATION INTO FED CHAIR JEROME POWELL
https://www.federalreserve.gov/newsevents/speech/powell20260111a.htm
SLING NEWS: Federal Reserve Chair Jerome Powell has become the focus of a criminal investigation launched by the Trump administration’s Justice Department, raising concerns about the politicization of the central bank and its long-standing independence.
The probe centers on Powell’s recent testimony before Congress regarding the costly renovations at the Federal Reserve’s Washington headquarters. Prosecutors have reportedly issued subpoenas and threatened indictment, alleging that Powell misrepresented the nature of the improvements—particularly regarding the inclusion of luxury features, which Powell denied under oath during his June appearance.
Powell has denounced the investigation as retaliatory, claiming it stems from the Federal Reserve’s refusal to acquiesce to political pressure to lower interest rates. “This is about the independence of the central bank,” Powell said in a statement. “We cannot allow political interference to dictate monetary policy.”
The Justice Department’s actions have ignited bipartisan outrage on Capitol Hill. Lawmakers from both parties, as well as several former Fed chairs, warn that the probe represents an unprecedented attack on the central bank’s autonomy. Critics argue that the investigation threatens to erode public faith in the Federal Reserve and could destabilize the broader economy by blurring the line between politics and monetary policy.
Despite mounting pressure, Powell remains defiant, insisting that the Federal Reserve’s independence is essential for the stability and credibility of the U.S. financial system. As the investigation unfolds, questions about the Justice Department’s impartiality and the future of central bank autonomy continue to intensify.
JEROME POWELL
SLING NEWS — Jerome Powell, the Chair of the U.S. Federal Reserve, stands at the helm of the nation’s central bank during an era of unprecedented economic challenges and global scrutiny. Tasked with shaping America’s monetary policy and managing interest rates, Powell’s decisions ripple through financial markets from Wall Street to the world stage.
Powell, a former investment banker at The Carlyle Group, first took the reins of the Federal Reserve in 2018 after his appointment by President Donald Trump. President Joe Biden later reappointed him, signaling rare bipartisan confidence in his stewardship. During the COVID-19 pandemic, Powell’s swift interventions helped steady volatile markets and protect American jobs, reinforcing the Fed’s role as a stabilizing force.
With a background in law and previous public service at the Treasury Department and Bipartisan Policy Center, Powell is widely regarded as pragmatic and unflappable under pressure. As he continues to navigate inflation concerns and shifting economic tides, his leadership remains central to the U.S. and global economic outlook.
SLING DIGITAL FALL 2024-2026
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