Bloomberg News Now Fed Served With DOJ Subpoenas, Iran Protests, More
Jan 12, 2026
Federal prosecutors have launched a criminal investigation into Fed Chair Jay Powell, focusing on renovations at the Federal Reserve. Responses from Senators include calls for a pause on Fed confirmations. Tensions are rising in Iran with protests against the government, as the U.S. considers its response. The situation in Minneapolis has escalated with protests and federal agents deployed after a fatal shooting. Additionally, discussions are underway about revitalizing Venezuela's oil sector and concerns are growing over NATO's military presence in Greenland.
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DOJ Probe Targets Fed Chair Powell
- The DOJ has opened a criminal probe into Fed Chair Jay Powell over the Fed headquarters renovation and possible false testimony to Congress.
- Powell confirmed grand jury subpoenas and framed them as politically motivated attacks on Fed independence.
Senators Push Back Over Fed Investigation
- Senators reacted sharply, with Republican Tom Tillis saying he would block Fed confirmations until the matter is resolved.
- Massachusetts Senator Elizabeth Warren also urged the Senate not to confirm any Trump Fed nominees.
U.S. Signals Tough Stance On Iran Protests
- Nationwide protests in Iran intensified while President Trump warned of strong options, signaling renewed talk of U.S. regime-change posture.
- Tehran warned the U.S. and Israel against intervention as tensions rose.