U.S. Attorney Jeanine Pirro said Monday that the Justice Department was forced to turn to the “legal process” to obtain information about Federal Reserve Chairman Jerome Powell’s congressional testimony on central bank renovations, after he reportedly “ignored” prosecutors’ requests.
She also downplayed the idea that Powell will face an indictment.
“The United States Attorney’s Office contacted the Federal Reserve on multiple occasions to discuss cost overruns and the chairman’s congressional testimony, but were ignored, necessitating the use of legal process — which is not a threat,” Pirro wrote. "The word 'indictment' has come out of Mr. Powell’s mouth, no one else’s. None of this would have happened if they had just responded to our outreach. This office makes decisions based on the merits, nothing more and nothing less. We agree with the chairman of the Federal Reserve that no one is above the law, and that is why we expect his full cooperation."
The United States Attorney’s Office contacted the Federal Reserve on multiple occasions to discuss cost overruns and the chairman’s congressional testimony, but were ignored, necessitating the use of legal process—which is not a threat.
— US Attorney Pirro (@USAttyPirro) January 13, 2026
The word “indictment” has come out of Mr.…
Federal Reserve Chairman Jerome Powell is under criminal investigation by the U.S. Attorney’s Office in D.C., accused of misleading Congress during his June 2025 testimony on a $2.5 billion renovation of the Fed’s Washington headquarters.
The probe, launched by U.S. Attorney Jeanine Pirro after a referral from Rep. Anna Paulina Luna (R-Fla.), has already led to grand jury subpoenas for the Fed last Friday, examining Powell’s statements and financial records for possible perjury or false statements amid the project’s ballooning costs.
Powell has blasted the inquiry as a politically motivated attack on the Fed’s independence, tying it to his refusal to cut interest rates faster at President Trump’s urging. He warned it could undermine the central bank’s ability to set policy based on economic realities rather than political pressure.