Trending Now - Trump's Probe Into Fed Chair Powell Takes Absurd Turn
WHO:
Alternet - Jerome Powell has a history with the Federal Reserve dating back to his appointment to the Board of Governors in 2012 by then-President Barack Obama.
The Bulwark - Andrew C. McCarthy published a biting article in the National Review on April 16th, 2026, criticizing the Trump DOJ's investigation of Powell.
Alternet - Paul Krugman is a major economist who supports Powell's gradual approach to interest rate cuts.
The Bulwark - Judge James Boasberg is the federal judge who invalidated subpoenas sent by Pirro’s office.
Alternet - Jerome Powell, 73, is the Federal Reserve Chairman appointed by Trump in 2018.
Alternet - Andrew C. McCarthy is a conservative journalist who criticized the Trump DOJ's investigation.
Alternet - Jeanine Pirro, a federal prosecutor for the DOJ, is leading the investigation into Powell.
The Bulwark - Kevin Warsh is Trump's nominee for the Federal Reserve Chairman position.
WHAT:
The Bulwark - Trump stated during an interview, “I’ve held back firing him. I’ve wanted to fire him, but I hate to be controversial,” regarding his intentions towards Powell.
The Bulwark - Trump expressed that he would have completed the Fed renovation project for $25 million, contrasting with the current estimated cost of $4 billion.
The Bulwark - Trump stated, “I’ll have to fire him, okay?” during an interview with Fox Business’s Maria Bartiromo on April 16th, 2026.
The Bulwark - Trump claimed that the renovation project at the Fed would have cost him $25 million, contrasting with the current estimated cost of $4 billion.
Alternet - Trump is calling for Powell to be fired for not lowering interest rates sufficiently.
Alternet - The DOJ is investigating claims that Powell lied to Congress regarding cost overruns in a renovation project.
The Bulwark - Trump threatened to fire Powell if he does not step down by May 15th, 2026.
The Bulwark - A federal judge invalidated subpoenas sent by Pirro’s office to the Federal Reserve, stating they were intended to harass Powell.
WHERE:
Alternet - The investigation involves the Federal Reserve's renovation project in Washington, D.C.
The Bulwark - The press event for Powell's nomination took place in the Rose Garden at the White House on November 2nd, 2017.
WHEN:
The Bulwark - The DOJ's investigation of Powell was described as a "transparent attempt" to gain leverage over him, with the investigation ongoing as of April 16th, 2026.
Alternet - The DOJ sent a pair of prosecutors and a federal investigator to the Fed's renovation site on April 14th, 2026, seeking a tour and to interview construction workers.
Alternet - Powell's term as Fed chair ends on May 15th, 2026.
Alternet - The DOJ sent investigators to the Fed's renovation site on April 14th, 2026.
The Bulwark - Trump made his threat to fire Powell on April 16th, 2026.
WHY:
The Bulwark - Sen. Thom Tillis is blocking the confirmation of Trump's nominee Kevin Warsh until the Trump administration ends its investigation into Powell.
The Bulwark - Sen. Thom Tillis is blocking Warsh's nomination until the Trump administration ends the investigation into Powell.
Alternet - Trump is frustrated with Powell for not implementing dramatic interest rate cuts.
The Bulwark - Sen. Thom Tillis is blocking Warsh's nomination until the Trump administration ends the investigation into Powell.
HOW:
The Bulwark - Prosecutors from Pirro’s office made an unannounced visit to the Fed building on April 14th, 2026, seeking to tour the renovations.
The Bulwark - Prosecutors from Pirro’s office made an unannounced visit to the Fed building on April 14th, 2026, seeking to “check on progress” via a “tour” of the renovations.
Alternet - The DOJ's investigation includes sending prosecutors and a federal investigator to the Fed's renovation site.
The Bulwark - Trump has attempted to pressure Powell through public threats and investigations regarding the Fed's renovation costs.
(UPDATED April 17, 2026 15:19 UTC)
Jerome Powell, who has been with the Federal Reserve since his appointment to the Board of Governors in 2012 by President Obama, is currently under investigation by the Trump Department of Justice, which some critics describe as a "transparent attempt" to gain leverage over him. In an interview, Trump revealed that he has held back from firing Powell, expressing frustration over the cost of the Fed renovation project, which he claims he could have completed for $25 million instead of the current estimate of $4 billion. Meanwhile, Senator Thom Tillis is blocking the confirmation of Trump's nominee Kevin Warsh until the investigation into Powell concludes, with prosecutors from Pirro’s office making an unannounced visit to the Fed building on Tuesday to tour the renovations.
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(UPDATED April 17, 2026 11:18 UTC)
on Thursday, Trump expressed his frustration during an interview with Fox Business, stating, “I’ll have to fire him, okay?” while discussing the Federal Reserve's renovation project, which he claims would have cost him $25 million compared to the current estimate of $4 billion. on Tuesday, the Department of Justice sent a pair of prosecutors and a federal investigator to the Fed's renovation site for a tour and to interview construction workers, coinciding with an unannounced visit from prosecutors in Pirro’s office to check on the progress of the renovations. Meanwhile, Senator Thom Tillis is blocking Warsh's nomination until the Trump administration concludes its investigation into Powell.
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(UPDATED April 17, 2026 09:21 UTC)
President Trump is calling for Jerome Powell, the Federal Reserve Chairman he appointed in 2018, to be fired for not lowering interest rates sufficiently, threatening to dismiss him if he does not step down by May 15th. The Department of Justice is investigating claims that Powell lied to Congress about cost overruns in a renovation project at the Federal Reserve in Washington, D.C., and on Tuesday, investigators were sent to the renovation site. Meanwhile, a federal judge has invalidated subpoenas issued by federal prosecutor Jeanine Pirro’s office, stating they were intended to harass Powell amid this ongoing investigation.