Federal prosecutors are launching an investigation into Jay Powell regarding the Federal Reserve's headquarters renovation project. The inquiry comes as questions mount over the scope, costs, and decision-making process behind the Fed's major facility overhaul. This development marks a significant scrutiny of leadership decisions at the nation's central bank, at a time when monetary policy decisions continue to shape market conditions and asset valuations across financial markets. The investigation underscores ongoing tensions between oversight bodies and financial institutions, particularly as the Fed navigates its dual mandate amid evolving economic pressures.