Fed Chair Faces Investigation Over HQ Renovation

The U.S. attorney's office in D.C. has launched a criminal investigation into Federal Reserve Chair Jerome Powell regarding the central bank's headquarters renovation. The probe, approved by Attorney Jeanine Pirro, involves Powell's statements to Congress and spending records. The New York Times initially reported the situation.

The U.S. attorney's office in the District of Columbia has initiated a criminal investigation involving Federal Reserve Chair Jerome Powell. The investigation centers on the Federal Reserve's headquarters renovation project in Washington, D.C., and whether Powell provided false information to Congress regarding the project's scope.

According to the New York Times, which first reported the story on Sunday, the inquiry includes a thorough analysis of Powell's public declarations and the examination of the spending records associated with the renovation efforts.

Attorney Jeanine Pirro approved the investigation in November, as reported by the Times, citing details shared by officials who have been briefed on the matter.

(With inputs from agencies.)