Fed has not yet complied with subpoenas as Powell probe continues: Source [View all]

Source: CNBC

Published Wed, Jan 28 2026 12:12 PM EST Updated 36 Min Ago


The Federal Reserve has not yet complied with grand jury subpoenas issued as part of a criminal investigation of Fed Chair Jerome Powell by federal prosecutors in Washington, D.C., a person familiar with the situation told CNBC on Wednesday.

The probe of Powell is continuing, according to that person, who spoke hours before the Fed is set to reveal whether it will cut interest rates for the fourth time in recent months.

It is not clear when the deadline is for the Fed to turn over documents demanded by the subpoena. CNBC has requested comment from the Fed and from the Department of Justice.

Powell on Jan. 11 said that he was under criminal investigation. The probe is being conducted by the office of Jeanine Pirro, the U.S. Attorney for the District of Columbia.

Read more: https://www.cnbc.com/2026/01/28/fed-powell-criminal-subpoenas-pirro.html