Federal Reserve Chairman Jerome Powell answers questions from reporters following the regular Federal Open Market Committee meetings at the Federal Reserve in Washington on July 30, 2025. Chip Somodevilla/Getty ImagesCommentary

The Department of Justice has opened an investigation into cost overruns in the Federal Reserve’s renovation project, with particular focus on Fed Chairman Jerome Powell and his testimony to Congress in June 2025. The question is whether he perjured himself concerning what he knew and when.

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