On January 10, 2026, the Justice Department threatened criminal charges against Federal Reserve Chair Jerome Powell over testimony about building renovations. This is retaliation for refusing President Trump's demands to lower interest rates. Powell stated clearly: "The threat of criminal charges is a consequence of the Federal Reserve setting interest rates based on our best assessment of what will serve the public, rather than following the preferences of the President." The Justice Department approved this investigation through Jeanine Pirro, a Trump loyalist. It follows months of escalating attacks: Trump publicly threatening to fire Powell, the administration firing Fed Governor Lisa Cook on fabricated fraud charges, and relentless demands for rate cuts that Powell refused. Even Republican Senator Thom Tillis condemned it as an attack on Federal Reserve independence. Congress must investigate the Justice Department's role in this political prosecution, hold hearings on the origins and approval of this investigation, and defend the independence of the Federal Reserve from prosecutorial abuse. No president can weaponize criminal investigations against officials who refuse political demands.