Sigma Live

Former Fed Chairs Condemn Investigation into Powell

Published January 12, 2026, 17:11
Former Fed Chairs Condemn Investigation into Powell

Three former chairpersons of the U.S. Federal Reserve (Fed), Janet Yellen, Ben Bernanke, and Alan Greenspan, along with other former economic advisors, condemned the criminal investigation into current Fed Chairman Jerome Powell. They believe this investigation undermines the independence of the central bank, something typically seen in emerging economies with weak institutions. Powell confirmed that the Department of Justice is investigating statements he made to Congress regarding the renovation of the Fed building. President Trump accused the Fed of excessive costs in the renovation and potential fraud, while the Fed disputes his claims. The case has raised concerns about potential political interference in monetary policy.