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US govt opens criminal probe into Federal Reserve Chair Powell; Trump denies any role
short by Bhawana Chaudhary / on Monday, 12 January, 2026
US Federal Reserve Chair Jerome Powell said Department of Justice has opened a criminal investigation into his Congressional testimony about the $2.5-billion renovation of the central bank's headquarters. Powell said the probe is a consequence of Fed's refusal to cut interest rates as per President Donald Trump's demands. Denying his role, Trump said, "I don't know anything about it."
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