Powell says the Fed was served DOJ subpoenas over building renovations
The subpoenas threatened a criminal indictment related to Jerome Powell's testimony before the Senate Banking Committee in June 2025, according to the Fed chair.
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The subpoenas threatened a criminal indictment related to Jerome Powell's testimony before the Senate Banking Committee in June 2025, according to the Fed chair.
Meanwhile, Federal Reserve Chairman Jerome Powell is now facing a criminal investigation. Bradley Blackburn reports.
Federal prosecutors claim Powell lied to Congress when he testified last year about the cost of the renovation of the Fed’s D.C. headquarters.
Prosecutors claim Powell lied to Congress when he testified before senate banking committee last year when he testified about the cost of the feds' D.C. headquarters.
Federal Reserve Chair Jerome Powell has been under pressure from President Trump to lower the central bank's benchmark interest rate.
The battle came as the president sparred with the head of the federal reserve in a rare presidential visit to their headquarters.
The House will soon take up the package of spending cuts narrowly approved by the Senate overnight, that slashes previously approved funding for foreign aid as well as PBS and NPR. Lawmakers are also reacting to President Trump's latest comments on whether he'll try to oust Federal Reserve Chair Jerome Powell, whom he has repeatedly criticized for not lowering interest rates.
President Trump has lashed out against Federal Reserve Chair Jerome Powell for weeks.
President Donald Trump is escalating his pressure campaign to get the Federal Reserve chairman to either lower interest rates or quit his post by targeting the expensive renovation at the central bank’s headquarters.
The Federal Reserve kept its key interest rate unchanged at its May meeting on Wednesday, brushing off President Trump’s demands to lower borrowing costs.
President Trump says he's eager to see Federal Reserve chair Jerome Powell go. It comes amid the president's ongoing frustration over interest rates, and after Powell said tariff uncertainty could pose a risk to the U.S. economy.
Stocks suffered their worst crisis since COVID in March 2020, as the Dow Jones plunged more than 2,200 points on Friday, over concerns about the fallout from President Trump’s tariffs. The NASDAQ and S&P lost nearly 6 percent. Posting on social media as he went golfing, the president called this “a great time to get rich.” But in a rare move, President Trump is calling on the Federal Reserve to cut interest rates. Fed chairman Jerome Powell warned on Friday that tariffs could do long-term harm to the economy.
Fed Chair Jerome Powell cites "high uncertainty" around the impact of Trump administration tariffs on key trading partners.
The Federal Reserve on Wednesday moved to lower its benchmark rate by 0.25 percentage points, but said it plans fewer cuts in 2025.
The Federal Reserve just lowered its benchmark rate by 0.50 percentage points. Here's how the move could impact your finances.
The Fed's decision will lower borrowing costs from a 23-year high as the central bank pivots to shoring up economic growth.
Federal Reserve Chair Powell, speaking at a conference in Jackson Hole, Wyoming, said the timing and pace of rate cuts will depend on economic data.
The rise in the federal funds rate, which is what banks charge each other for overnight loans, comes as several significant pieces of economic data are released this week.
There's a new push in Springfield to get gun manufacturers to foot some of the bills for the costs of gun crime; expenses like ambulances, funerals, lost wages, and more.
The Chatham community came together on Wednesday night to honor fallen Chicago police officer Thomas Wortham IV, 16 years after he was shot and killed.
A Chicago police officer's family said he's lucky to be alive after he was attacked on Tuesday night in the McKinley Park neighborhood.
Kyle Harrison struck out 11 in seven dominant innings and the Milwaukee Brewers beat the sloppy Chicago Cubs 5-0 to sweep the first series this season between the NL Central rivals.
A new report on Cook County State's Attorney Eileen O'Neill Burke's first 500 days in office shows sharp increases in felony charges and prison sentences in retail theft cases.
There's a new push in Springfield to get gun manufacturers to foot some of the bills for the costs of gun crime; expenses like ambulances, funerals, lost wages, and more.
Former Cuban leader Raúl Castro was indicted by a U.S. grand jury in connection with the Cuban military's fatal downing of two planes in 1996 — an escalation in the U.S. pressure campaign against the Cuban government.
Chicago city leaders on Wednesday announced a new effort to connect people with affordable housing.
Barney Frank, a Democrat who represented Massachusetts in Congress for 32 years, has died. He was 86 years old.
The $1.776 billion fund, which is part of the agreement to settle Trump's lawsuit against the IRS and Treasury Dept., is to be used to compensate those who claim that the government weaponized the legal system against them.
Consumer and environmental advocates said Monday that they found overcharges buried in the most recent rate-hike request by Nicor.
One week away from Memorial Day weekend and the unofficial start of the summer travel season, with gas prices remaining high, negotiations were set to resume Monday at the largest oil refinery in the Midwest.
Chatham residents say they're losing a vital resource as Walgreen's prepares to close its store near 86th and Cottage Grove.
According to AAA, the average price of a gallon of regular gas in Chicago was $5.17 on Friday, up from $3.75 a year ago.
Peoples Gas and North Shore Gas Company customers are likely to see minor credits on their bills for the next three years, thanks to a $125 million settlement agreement announced Thursday by Illinois Attorney General Kwame Raoul.
A person suspected of having hantavirus in Winnebago County, Illinois, turned out to be a false alarm, officials said Monday.
The DuPage County Health Department has confirmed its first positive tests for West Nile virus in pools of mosquitoes this year.
The Kane County Health Department was set Monday to offer a free mental health awareness webinar.
At least 80 deaths have been reported in a new Ebola disease outbreak in Congo and Uganda, authorities said.
Engineers at Northwestern University have created a wireless polygraph to detect stress.
The owners of Gene & Georgetti steakhouse are suing a concessions operator over their expansion at Midway International Airport.
DraftKings announced Monday that it is closing its sportsbook operation at Wrigley Field after only about two years.
After more than 80 years, there will be no Ann Sather restaurant location in the 900 block of West Belmont Avenue in Chicago's Lakeview community, effective in June.
Flight attendants at Chicago-based United Airlines have approved a new labor contract, marking their first pay increases in six years.
The Chicago Fire FC announced Wednesday morning that its new stadium in the South Loop will be named McDonald's Park.
Bill Pullinsi, a Chicago-area stage director and producer widely called the "father of dinner theater," has died.
The Chicago-born house music track, which began as a personal poem in 1982 and became a defining anthem of the city's house music scene, has been selected for permanent preservation by the Library of Congress.
The Library of Congress revealed this year's list of 25 recordings to be preserved for future generations on the National Recording Registry.
David Allan Coe also had hits with "You Never Even Called Me By My Name" and "The Ride" among others.
Some youngsters got a behind-the-scenes look at the magic of making opera Sunday at the Lyric Opera of Chicago.
Meteorologist David Yeomans has the latest First Alert Weather forecast.
There's a new push in Springfield to get gun manufacturers to foot some of the bills for the costs of gun crime; expenses like ambulances, funerals, lost wages, and more.
The Chatham community came together on Wednesday night to honor fallen Chicago police officer Thomas Wortham IV, 16 years after he was shot and killed.
A Chicago police officer's family said he's lucky to be alive after he was attacked on Tuesday night in the McKinley Park neighborhood. Officer Kevin Mangan has a long road ahead because of the injuries he suffered.
Two children and two adults are dead, and two other children are injured after a house fire in Chicago's West Englewood neighborhood early Wednesday morning, Chicago police said.
Antonio Wilson said his parents and two of their four foster children were killed. The two other foster children survived.
A Chicago police officer's family said he's lucky to be alive after he was attacked on Tuesday night in the McKinley Park neighborhood.
There's a new push in Springfield to get gun manufacturers to foot some of the bills for the costs of gun crime; expenses like ambulances, funerals, lost wages, and more.
The Chatham community came together on Wednesday night to honor fallen Chicago police officer Thomas Wortham IV, 16 years after he was shot and killed.
Chicago Police Superintendent Larry Snelling put parents on notice about teen takeovers in the city this summer.
Many Metra riders with disabilities have been forced to reroute their trips due to Monday's closure of the only elevator providing access to the Electric Line at Millennium Station in downtown Chicago.
Pothole complaints continue everywhere, but especially on one street in the Pullman neighborhood on the South Side of Chicago.
People in Lincoln Park and Lakeview have rallied against a plan to build a new industrial ComEd electrical substation in their neighborhoods, pushing local and state leaders to get involved.
Monday marks one year since Illinois enacted Karina's Law — legislation aimed at taking firearms out of the hands of people accused of domestic abuse.
Tenants at a South Shore apartment building said they've noticed their rent fluctuating by hundreds of dollars a month due to a change in how their utility billing system is set up.
Kyle Harrison struck out 11 in seven dominant innings and the Milwaukee Brewers beat the sloppy Chicago Cubs 5-0 to sweep the first series this season between the NL Central rivals.
Jhonny Pereda hit his first MLB homer, Randy Arozarena also went deep and scored three runs, and the Seattle Mariners beat the Chicago White Sox 5-4.
Andrew Benintendi drove in the go-ahead run with an infield single in the ninth inning, four Chicago pitchers held Seattle to one hit, and the White Sox beat the Mariners 2-1.
Jacob Misiorowski pitched six scoreless innings, Brice Turang was 3 for 4 with a two-run homer, and the Milwaukee Brewers topped the Chicago Cubs 5-2 to move into first place in the NL Central.
Rickea Jackson's promising first season with the Chicago Sky is over after it barely began after suffering a torn ACL in Sunday's win against the Minnesota Lynx.
Chicago police on Wednesday were searching for seven people in connection with an armed robbery at the Thorndale CTA Red Line stop earlier this month.
A man was shot in the legs early Wednesday morning in Chicago's Irving Park neighborhood.
Three teens were wounded during two separate shootings in Chicago's Austin neighborhood.
A man was shot and killed in the north Chicago suburb of Skokie early Tuesday.
A man is being held in custody on charges that he tricked two young women into believing he was an art student working on a photography project in Chicago's Northalsted district, and went on to sexually abuse one of them.
