Investigation into the Fed: the Trump Administration increases pressure to advance a new dollar policy

On January 11, 2026, the Department of Justice served the Federal Reserve with subpoenas, threatening criminal indictment related to the testimony of Fed Chair Jerome Powell before the Senate Banking Committee in June 2025 regarding a multi-year project to reconstruct historic Fed office buildings costing $2.5 billion.

The actions of the Donald Trump administration are a tool to enhance the manageability of the Fed and reduce its ability to block Washington's broader geoeconomic priorities.

This involves the desire to transform the Fed from a semi-autonomous institution into one whose actions are synchronized with the White House's financial diplomacy and the architecture of control over global trade chains.

In this construct, the Fed's monetary policy must align with the administration's goals of reformatting global markets and strengthening the dollar's role in the world economy.