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Home > Latest

Report: The Trump Justice Department's investigation into Powell is still ongoing, and the Fed has not complied with the subpoena request.

date
29/01/2026
According to sources familiar with the matter, the Federal Reserve has not yet complied with a federal grand jury subpoena issued as part of a criminal investigation against Federal Reserve Chairman Powell. The investigation into Powell is still ongoing. It is worth noting that this news comes just hours before the Federal Reserve announces whether or not they will cut interest rates for the fourth time in recent months. It is currently unclear when the deadline is for the documents requested in the subpoena from the Federal Reserve.
Latest
4 m ago
Kell Chapman, foreign exchange market analyst at Bollinger Group: The outcome of this meeting was not unexpected. The market is pleased that the core members of the committee did not bow to Trump, showing firm stance. Opposition still comes from the same old faces. As for other members, they do not seem to be worried about the need for assistance in the US labor market in the near future. The interest rate path for this year is still uncertain, but I believe there is no reason to cut rates before the summer. The economy is strong, the stock market is soaring, and inflation is maintained in the range of 2.5% to 3.0% - why further loosen policy now?
4 m ago
Matthias Schber, head of the diversified asset team at Allspring Global Investments: The job market is stabilizing, inflation continues to rise, prompting the Federal Reserve to pause its previous rate cuts to support economic growth in the United States. The current interest rate level seems to be approaching neutral rate, which can both boost employment and curb inflation. However, the investment and capital spending boom triggered by artificial intelligence, as well as the surge in commodity prices including industrial metals, may make this year's inflation trajectory more difficult to reverse. The market has gradually digested one of the expected rate cuts at the end of last year. The focus of the market will still be on the appointment of the new Federal Reserve Chairman, with intense competition currently, but it is widely expected that Powell's successor will be more dovish. The pressure from the government on the Federal Reserve to cut rates is expected to be a major theme this year.
5 m ago
Ryan Detrick, Chief Market Strategist at Carson Group: We know that Milan's entry into the Federal Reserve is to bring about some changes to existing policies. He has been doing this all along. But Powell's situation is somewhat intriguing. His name is still on the list of candidates, possibly becoming the next Fed chair. So I believe he is also trying to get the attention of the president, emphasizing that he stands firmly in the dovish camp even in the face of worrying inflation. The independence of the Fed is a very real issue. We all know that the next Fed chair will face tremendous pressure to cut interest rates. But if the data shows otherwise, we all hope that they can make the right decisions, rather than succumb to pressure and adopt policies that may be detrimental to the economy.
6 m ago
Ryan Detrick, Chief Market Strategist at Carson Group: The Federal Reserve did not take any aggressive measures. The market widely expected them to stay put. In fact, we may have to wait until after Powell steps down as chair of the Federal Reserve in May to see any rate cuts. The potential good news is that they did mention some positive factors in the labor market, but inflation is clearly a concern. Just look at the soaring prices of commodities we have seen recently.
6 m ago
Corpay's Chief Market Strategist Carl Shamota: The Fed did nothing and remains steadfast. By a vote of 10 to 2, and cleverly adjusting the assessment of the labor market conditions, the central bank clearly stated its current intention to stay put. Market expectations for recent easing policies may be disappointed.
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