Jerome Powell, chairman of the US Federal Reserve, during a news conference following a Federal Open Market Committee (FOMC) meeting in Washington, DC, on Wednesday, December 10, 2025. Federal Reserve officials delivered a third consecutive interest-rate reduction and maintained their outlook for just one cut in 2026. | Al Drago/Bloomberg via Getty Images On Sunday evening, Federal Reserve Chair Jerome Powell revealed that the Trump administration has opened a criminal investigation into him, nominally because of a dispute over a renovation of the Fed’s headquarters. The real reason fo...

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