Powell broke the news of a criminal probe Sunday night minutes before a New York Times report on the investigation was published. He posted a video to the Federal Reserve website and on social media accusing Trump of retribution.

On January 11th Mr Trump declared that from January 20th firms charging annual interest of more than 10% on credit-card loans would be in for “very severe things”. Days later he urged Congress to curb fees merchants pay to card-payment processors such as Visa and Mastercard.

The DOJ subpoenaed the Fed Reserve concerning allegations that Powell lied regarding the scope of expensive Fed reservations.

President Donald Trump heads to Michigan to promote his efforts to boost U.S. manufacturing, trying to counter fears about a weakening job market and worries over rising prices.

Sen. Elizabeth Warren (D-Mass.) said the Senate should halt all of President Trump’s nominees to the Federal Reserve because of the Department of Justice (DOJ) probe into Federal Reserve Chair

Powell announced on Sunday the DOJ is probing the Federal Reserve, raising concerns about the nature of the investigation.

Two weeks into 2026, Trump has already claimed control of Venezuela, escalated threats to seize Greenland and flooded U.S. streets with ICE agents.