Powell says DOJ has subpoenaed Federal Reserve, threatens criminal indictment

Powell says DOJ has subpoenaed Federal Reserve, threatens criminal indictment

January 12, 2026 / Forbes LA /

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Powell says DOJ has subpoenaed Federal Reserve, threatens criminal indictment
The move represents an unprecedented escalation in Trump’s battle with the independent agency he has repeatedly attacked for not cutting key interest rate as sharply as he prefers. The renewed fight will likely rattle financial markets Monday and could over time escalate borrowing costs for mortgages and other loans.

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