Powell confirms Fed received DOJ subpoenas over building renovations

Federal Reserve Chair Jerome Powell said the U.S. Department of Justice served subpoenas on the central bank over building renovation matters ahead of his June 2025 Senate Banking Committee testimony. The subpoenas, according to Powell, warned of a possible criminal indictment tied to issues expected to arise during the hearing. He did not identify specific projects, individuals, or statutes under review. The Justice Department has not publicly detailed the investigation, and no charges have been announced. Lawmakers plan to question Powell on monetary policy, internal operations, and oversight of renovation contracts at Fed facilities.

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Trump briefed on new options for military strikes in Iran, source says

President Donald Trump received a classified briefing on new U.S. military strike options against Iran, according to a source familiar with the discussions. The review of potential responses came as tensions with Tehran remained high and U.S. officials monitored Iran’s internal security actions and regional activities. On Friday, Trump publicly stated that if the Iranian government resumed “killing people like they have in the past,” the United States “would get involved,” signaling a possible red line tied to large-scale violence against civilians. Officials did not confirm any decision to carry out strikes.

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