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Jerome Powell

Powell says DOJ threatened Fed indictment over headquarters renovation

A hand holding a phone showing financial charts with a pad of paper for notes aside.

Jerome Powell says prosecutors threatened a criminal indictment tied to his Senate testimony about the Fedโ€™s $2.5 billion headquarters renovation, and he claims the real aim is political pressure on interest rates.

The Fed Just Admitted the Job Market Is Worse Than Official Data Suggests

Rendering of Powell looking at the lectern with a spreadsheet

The official government data paints a picture of a labor market that is cooling but resilient, with steady, albeit modest, job growth. But on Wednesday, Federal Reserve Chair Jerome Powell signaled a far more somber reality: once the statistical dust settles, the true picture of the American economy may be one of job destruction, not creation.