Fed Headquarters Renovation Triggers Investigation, Powell Faces Legal Challenges
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
- Legal Investigation Initiated: The U.S. Attorney's Office has launched a comprehensive investigation into Fed Chair Powell to assess whether he misled Congress regarding renovation details, highlighting significant concerns about the Fed's transparency.
- Budget Overrun Issues: The renovation costs for two historic buildings at the Fed's headquarters have surged from $1.9 billion in 2023 to $2.5 billion, reflecting ongoing increases in construction costs that could impact future fiscal decisions.
- Escalating Political Pressure: President Trump has expressed dissatisfaction with Powell's management and demanded his resignation, intensifying the pressure on the Fed and potentially affecting its independence in monetary policy.
- Criminal Charge Risks: Powell stated that the DOJ has issued grand jury subpoenas to the Fed, indicating he faces potential criminal charges, which could have profound implications for his future policy decisions.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
