DOJ Investigates Fed Chair Powell, Sparks Political Firestorm

A criminal investigation into Federal Reserve Chair Jerome Powell by the U.S. Justice Department is facing criticism from both major political parties. The probe relates to cost overruns for renovating the Federal Reserve's main building in Washington. The headquarters is roughly one hundred years old. Several Republican lawmakers have publicly criticized the investigation. At least half a dozen expressed concern when asked about it. The criticism shows a rare moment of bipartisan agreement, as Democrats have also voiced disapproval. The Justice Department has not released detailed allegations. Powell has led the U.S. central bank since 2018.