Fed Chair Jerome Powell Discloses Ongoing Federal Criminal Investigation, Calls It ‘Pretext’

• Federal Reserve Chair Jerome Powell personally disclosed an active federal criminal investigation in a video statement.
• The probe focuses on Powell’s earlier congressional testimony regarding a Fed office building renovation project.
• Powell described the allegations as a “pretext” aimed at undermining central bank independence.
• Bitcoin briefly surpassed $92,000 following the news amid broader market volatility.

Federal Reserve Chair Jerome Powell took the unusual step of releasing a direct video statement on Sunday to confirm reports of an ongoing federal criminal investigation into his conduct.

The investigation reportedly centers on statements Powell made to Congress earlier this year concerning a Federal Reserve office building renovation project.

In the video, Powell rejected the allegations outright, characterizing them as a “pretext” for efforts by the Trump administration to erode the central bank’s independence.

“These allegations are a pretext for an attack on central bank independence,” Powell stated.

The disclosure marks a rare public intervention by the Fed chair on a personal legal matter and underscores heightened political pressure on the institution.

Investors and analysts view central bank independence as a cornerstone of credible monetary policy, and any perceived threats can influence expectations around interest rates and risk assets.

Cryptocurrency markets registered a modest response, with Bitcoin recovering above $92,000 after dipping below $91,000, indicating the news contributed to but did not dominate price action.

Market participants noted that while the situation introduces additional uncertainty, core drivers such as institutional adoption and macroeconomic trends continue to shape Bitcoin’s near-term trajectory.

Further official statements or developments from the Federal Reserve or investigative authorities are awaited.

Disclaimer: This article is for informational purposes only and does not constitute advice of any kind. Readers should conduct their own research before making any decisions.