Trump Denies Knowledge of DOJ Probe Into Powell, Fed Renovations [View all]
Source: Newsweek
Jan 11, 2026 at 10:13 PM EST
President Donald Trump denied having any knowledge of the Department of Justice (DOJ) investigation into the Federal Reserve after the agency subpoenaed the central bank on Friday.
In an interview with NBC News Sunday night, Trump said "I don't know anything about it, but he's certainly not very good at the Fed, and he's not very good at building buildings," referring to Federal Reserve Chair Jerome Powell.
The comments came hours after Powell released a video statement announcing the DOJ had served grand jury subpoenas threatening criminal indictment related to his June testimony before the Senate about the Fed's office building renovations. Trump told NBC News that the investigation has nothing to do with interest rates, contradicting Powell's assertion that the probe is politically motivated pressure over monetary policy.
Newsweek reached out to the White House and Federal Reserve via email, as well as the DOJ via online form on Sunday for additional comment.
Read more: https://www.newsweek.com/trump-denies-knowledge-of-doj-probe-into-powell-fed-renovations-11343297
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