American Banker Newspaper. Letter to the Editor. Threatening Powell with Criminal Prosecution is a Dire Step. January 12, 2026.
To the editor: The reported criminal investigation involving Federal Reserve Board Chair Jerome Powell should alarm anyone who cares about financial stability, bank supervision and the rule-based operation of U.S. markets. This is not about a building renovation. It is about power. When political actors are dissatisfied with monetary policy — interest rates, inflation or the impact of tariffs — they increasingly seek leverage outside the policy process. Investigations, early leaks of confidential economic data, and public insinuations concerning legitimate private financial arrangements become tools of pressure. That is not accountability; it is intimidation. Just as the fatal shooting of Renée Nicole Good by an Immigration and Customs Enforcement agent in Minneapolis sparked questions about the appropriate use of force, the criminal inquiry into Powell over his congressional testimony about a building renovation — a question of public record and policy disclosur...