Federal Attorney Jeanine Pirro defended the Justice Department’s unprecedented decision. investigation into the Federal Reserve Monday Xstating that his office would not have sent subpoenas to the central bank “if they had responded to our communication.”

“The US Attorney’s Office contacted the Federal Reserve on multiple occasions to discuss cost overruns and the President’s testimony before Congress, but was ignored, requiring the use of legal process, which is not a threat,” the former News host wrote.

Jeanine Pirro in the Oval Office in May 2025.
Jeanine Pirro in the Oval Office in May 2025.

Bloomberg via Getty Images

On Sunday, the chairman of the Federal Reserve Jerome Powell saying in a statement that the Justice Department was “threatening criminal prosecution” in connection with his testimony before the Senate in June about the renovation of the Federal Reserve office buildings. The cost of renovating the Federal Reserve headquarters in Washington rose from $1.9 billion to $2.5 billion. Bloomberg Reports.

“The word ‘impeachment’ has come out of Mr. Powell’s mouth, no one else’s.” Pirro continued with X. “None of this would have happened if they had simply responded to our reach.”

“This office makes decisions based on the merits, nothing more and nothing less,” Pirro concluded. “We agree with the chairman of the Federal Reserve that no one is above the law and therefore we expect his full cooperation.”

The US Attorney’s Office contacted the Federal Reserve on multiple occasions to discuss cost overruns and the president’s testimony before Congress, but was ignored, requiring the use of legal process, which is not a threat.

The word “accusation” has come from Mr.…

– US Attorney Pirro (@USAttyPirro) January 13, 2026

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The US Attorney’s Office contacted the Federal Reserve on multiple occasions to discuss cost overruns and the president’s testimony before Congress, but was ignored, requiring the use of legal process, which is not a threat.

The word “accusation” has come from Mr.…

– US Attorney Pirro (@USAttyPirro) January 13, 2026

Powell said in his statement Sunday that he is not “above the law” and that he had made “every effort to keep” Congress informed about the renewal project. But he also made it clear that he believes the Justice Department’s alleged reasons for going after his agency are, well, made up.

For months, President Donald Trump has been publicly bully Powell into lowering interest rates before the midterm elections.

“It’s about whether the Federal Reserve will be able to continue setting interest rates based on evidence and economic conditions, or whether monetary policy will instead be driven by political pressure or intimidation,” Powell said.

President Donald Trump and Federal Reserve Chairman Jerome Powell tour the $2.5 billion Federal Reserve renovation project on July 24, 2025.
President Donald Trump and Federal Reserve Chairman Jerome Powell tour the $2.5 billion Federal Reserve renovation project on July 24, 2025.

Chip Somodevilla via Getty Images

Several Republican legislators they have come out in defense by Powell. Sen. Lisa Murkowski (R-Alaska) said it is “clear” that the investigation “is nothing more than an attempt at coercion” by the White House.

“If the Justice Department believes an investigation into Chairman Powell is warranted due to project cost overruns – which is not unusual – then Congress needs to investigate the Justice Department,” Murkowski said. “There is too much at stake to look the other way: if the Federal Reserve loses its independence, the stability of our markets and the broader economy will suffer.”

Democrats aren’t thrilled with all this fuss either.

Senator Elizabeth Warren (D-Mass.) He said the investigation is just another example of Trump “abusing the law like a wannabe dictator to make the Federal Reserve serve him and his billionaire friends.”