Trump Denies Knowledge of DOJ Probe Into Powell, Fed Renovations
Source: Newsweek
Jan 11, 2026 at 10:13 PM EST
President Donald Trump denied having any knowledge of the Department of Justice (DOJ) investigation into the Federal Reserve after the agency subpoenaed the central bank on Friday.
In an interview with NBC News Sunday night, Trump said "I don't know anything about it, but he's certainly not very good at the Fed, and he's not very good at building buildings," referring to Federal Reserve Chair Jerome Powell.
The comments came hours after Powell released a video statement announcing the DOJ had served grand jury subpoenas threatening criminal indictment related to his June testimony before the Senate about the Fed's office building renovations. Trump told NBC News that the investigation has nothing to do with interest rates, contradicting Powell's assertion that the probe is politically motivated pressure over monetary policy.
Newsweek reached out to the White House and Federal Reserve via email, as well as the DOJ via online form on Sunday for additional comment.
Read more: https://www.newsweek.com/trump-denies-knowledge-of-doj-probe-into-powell-fed-renovations-11343297

underpants
(195,042 posts)Link to tweet
?s=46&t=3VBm1LJ8j8qLp6JTs_8J2A
Lovie777
(21,804 posts)Earth Bound Misfit
(3,570 posts)
wolfie001
(7,120 posts)....grass in green, sky is blue,
donald tRUMP stinks and he's a liar too.....
The Wizard
(13,597 posts)mahina
(20,440 posts)gab13by13
(31,285 posts)It only pisses people like me off.
Powell spoke the truth about the criminal investigation, period, eom.
While we're at it why don't we start talking about why Krasnov wants interest rates at zero along side articles like this?
Krasnov wants low interest rates to crash the dollar.
Also, what Krasnov is doing, and make no mistake, the prosecution of Powell comes from Krasnov, is to send a message to the next Fed chair, Do what Krasnov wants or you will be prosecuted.
I hope this inspires Powell to stay on, after he resigns as chair he can stay on the Fed until 2028. I would love that.
BumRushDaShow
(165,954 posts)And that includes Comcast-owned NBC and their spin-offs like the newly-renamed "MS NOW".
And the few "indies" like "Mother Jones" (that I sub to), are publishing mostly "commentaries" and "features" and "investigations" (and similar happens with "The Atlantic", "New York Magazine", "The New Yorker", "Vanity Fair", "The Nation", that basically became a Putin mag, but all of which I sub to).
The "foreign" outlets like "The Guardian" (that I sub to) & "The Independent", "BBC", "DW", "AFP" (paywalled), do better but there are cases where their grasp of U.S. news is weaker (even with their reporters stationed here).
Remember there are centrist/left REPORTERS who work for MOST of those outlets and they are still a far cry from InfoWars, Newsmax, OANN, Town Hall, The Blaze, Washington Examiner, and of course Faux.
Scalded Nun
(1,609 posts)bluestarone
(21,254 posts)His lips are moving!! How anybody can't see that is crazy.
RedWhiteBlueIsRacist
(1,866 posts)2na fisherman
(246 posts)If he succeeds in getting rid of Powell, and he installs a lackey, he will dictate monetary policies which will wreck the economy and reduce the status of the dollar as the world's reserve currency. The stability created by an independent Fed will no longer be there to back the value of the dollar. Maybe that's part of the plan to impoverish everyone not among the one percent so the robber barons can take over everything for pennies on the dollar. It sure seems like he's deliberately trying to do everything he can to destroy this country on all levels. He must be stopped before the damage is beyond repair.
LetMyPeopleVote
(175,191 posts)Team Trump has embraced the idea that the levers of prosecutorial power are just another tool to be used against those who get in the presidents way.
As Trumpâs DOJ pursues Powell, it's worth appreciating the brazenness: Trump abusing the justice system. He knows heâs abusing the system. He knows that we know heâs abusing the system â but heâs doing it anyway.
— Steve Benen (@stevebenen.com) 2026-01-12T13:05:08.422Z
The corruption is the point. www.ms.now/rachel-maddo...
https://www.ms.now/rachel-maddow-show/maddowblog/prosecutors-open-investigation-into-fed-chair-powell-sparking-immediate-backlash
That didnt make a lot of sense there were no grounds for such a case but two weeks later, those comments became relevant anew. As it happens, the president didnt bother pursuing some baseless civil suit against the Fed chair; instead, his team settled on a different legal tactic. The New York Times reported:
The U.S. attorneys office in the District of Columbia has opened a criminal investigation into Jerome H. Powell, the Federal Reserve chair, over the central banks renovation of its Washington headquarters and whether Mr. Powell lied to Congress about the scope of the project, according to officials briefed on the situation.
The inquiry, which includes an analysis of Mr. Powells public statements and an examination of spending records, was approved in November by Jeanine Pirro, a longtime ally of President Trump who was appointed to run the office last year, the officials said.
Around the time the news started to reach the public, Powell issued a roughly two-minute video statement, speaking directly to the camera, confirming that Trumps Justice Department on Friday had served the Federal Reserve with grand jury subpoenas, threatening a criminal indictment.
Video message from Federal Reserve Chair Jerome H. Powell:
— Federal Reserve (@federalreserve.gov) 2026-01-12T00:35:27.499Z
www.youtube.com/watch?v=KckG...
www.federalreserve.gov/newsevents/s...
.......A political backlash is brewing too. Democratic leaders wasted little time in condemning the developments, but the pushback wasnt entirely partisan. Republican Sen. Thom Tillis of North Carolina, a member of the Senate Banking Committee, said in a statement, If there were any remaining doubt whether advisers within the Trump Administration are actively pushing to end the independence of the Federal Reserve, there should now be none. It is now the independence and credibility of the Department of Justice that are in question.
Just as notably, the senator said he would oppose the confirmation of any nominee for the Fed including the upcoming Fed Chair vacancy until this legal matter is fully resolved.
But as important as these elements are, its worth appreciating the profound damage Trump and his team are doing to the rule of law as the dust settles on the news......
Trump doesnt appear to be the least bit concerned about appearances or a pretense of propriety. Hes abusing the system. He knows hes abusing the system. He knows that we know hes abusing the system but hes doing it anyway.
Its easy to believe that Trump and his confederates arent hiding their weaponization of the criminal justice system because they want everyone to notice. They need federal officials and White House critics to be afraid, and other federal prosecutors to understand that theyll soon be unemployed unless they play ball with the Republican agenda.
The corruption is the point.
There might be half-hearted denials, issued with winks and nods, but by design, everyone should be painfully aware of what is plainly true: The authoritarian crisis has arrived, and its getting worse. We now live in a country where the presidents opponents are pursued by prosecutors in brazen displays of partisan power.