US bill to make Greenland official state is on table to be considered
The inquiry, which examines whether Powell misled Congress about the scope and cost of the renovations, was authorized in November by the US Attorney for the District of Columbia, Jeanine Pirro, a known Trump ally. Powell described the rationale behind the investigation as “pretexts” unrelated to his June testimony to Congress or the building renovations, in a video posted on X.
President Trump denied any connection to the probe, stating in an interview that “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.” Trump had previously threatened to replace Powell, citing frustration that the Fed’s interest-rate policy was not stimulating the economy quickly enough.
Powell emphasized that he has always carried out his duties “without political fear or favor,” regardless of the administration, and pledged to continue doing so. He has served as Fed chair since 2018, initially nominated by Trump and later renominated by President Biden in 2022.
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