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Giving an update on the DOJ criminal investigation into Fed Chair Jerome Powell. Governors of the Federal Reserve System. Now, the American public is fed up with public monies that seem to go into a black hole, especially in DC, where no one is held accountable. One of the age old tools that all prosecutors have to investigate any crime, including cost overruns, is a grand jury subpoena. Today, however, in Washington, an activist judge has taken that tool away from us.
By inserting himself and preventing the grand jury from even obtaining, let alone hearing evidence, he has neutered the grand jury's ability to investigate crime. As a result, Jerome Powell today is now bathed in immunity preventing my office from investigating the Federal Reserve. This is wrong and it is without legal authority. In June 2025, Jerome Powell testified before the Senate Banking Committee, making questionable statements that did not comport with publicly available documents. And that was regarding the atrocious cost overrun of more than $1,000,000,000 I didn't say million, I said billion, in renovations to his headquarters.
This from the man who says that he is the steward of our public funds. In November, the United States Attorney's Office began an inquiry. Prosecutors from my office gathered information for months we served two grand jury subpoenas. On December 19, we sent an email to the Federal Reserve to have a conversation, a meeting, or even a phone meeting, or even a phone call to discuss our concerns. Again, we were ignored.
We in fact asked to meet the first week in January. We were ignored. It was at that point that two grand jury subpoenas were issued to the Federal Reserve, not even to Jerome Powell. Again, no response, no compliance, but instead a Woe is Me video by Mr. Powell falsely claiming that he was being threatened with indictment.
And claiming victim status, Powell proceeds to call his political friends in DC and around the world to gin up support for himself. All the while refusing to produce simple documents. Now enter local district court judge James own. I case. And the subpoenas, thereby prohibiting us from reviewing any records and precluding us from submitting records to the grand jury.
That grand jury, of course, comprised of ordinary people. Ladies and gentlemen, no one is above the law.