According to NBC News, Trump stated that the Justice Department's investigation of Powell is unrelated to interest rates. Furthermore, Trump denied any involvement in the subpoena issued by the Justice Department to the Federal Reserve.

Odaily News Federal Reserve Chairman Jerome Powell issued a statement. The U.S. Department of Justice served a grand jury subpoena to the Fed on Friday, threatening criminal prosecution over his testimony last June before the Senate Banking Committee. Jerome H. Powell stated that the testimony concerned a multi-year renovation project for a Federal Reserve office building, but the real reason for the threat of criminal charges was the Fed setting interest rates based on economic assessments, not following the President's preferences. He emphasized that the Fed must formulate monetary policy based on evidence and economic conditions, not influenced by political pressure or intimidation. He will continue to fulfill the duties confirmed by the Senate, committed to the mission of maintaining price stability and full employment.

Odaily News: The U.S. Attorney's Office for the District of Columbia has launched a criminal investigation into Federal Reserve Chairman Jerome H. Powell. The investigation focuses on the renovation project at the Federal Reserve's Washington headquarters and whether Jerome H. Powell committed perjury before Congress regarding the scale of the project. The investigation was approved by prosecutor Jeanine Pirro in November 2025 and includes an analysis of Jerome H. Powell's public statements and a review of expenditure records. The renovation project had a budget of approximately $2.5 billion and is currently estimated to be over budget by $700 million. Jerome H. Powell previously denied during a congressional hearing that the project included luxury facilities such as private elevators and marble decorations, stating that the project plan had evolved and some features had been scaled back. The Federal Reserve has declined to comment on the matter.