DOJ Launches Criminal Investigation into Fed Chair Jerome Powell; U-Haul Strikes Crowd at LA Protest

Lead: Federal Reserve Chair Jerome Powell confirmed Sunday night that he is the subject of a Department of Justice criminal investigation regarding past testimony on a building renovation project. In an unrelated incident, a U-Haul truck drove into a crowd of protesters during a rally in Westwood, Los Angeles, on Sunday afternoon.

What we know

• Federal Reserve Chair Jerome Powell stated in a video released Sunday evening that the Department of Justice is investigating his testimony concerning a central bank building renovation project SOURCE.
• The Federal Reserve has been served with grand jury subpoenas related to the criminal probe into the renovation project SOURCE.
• A U-Haul vehicle struck a crowd of demonstrators at an anti-Iranian regime rally near the federal building in Westwood, Los Angeles, on Sunday SOURCE.
• Former Representative Mary Peltola announced a 2026 campaign for the U.S. Senate in Alaska SOURCE.
• Value City Furniture is liquidating all 21 of its Ohio retail locations SOURCE.
• Baltimore County police are investigating multiple commercial burglaries that occurred Sunday morning on Frederick Road in Catonsville SOURCE.
• New York Governor Kathy Hochul announced state policy requirements for platforms like Roblox to implement enhanced safety features for children SOURCE.
• Dreame Technology showcased the Nebula Next 01 concept vehicle at CES 2026 SOURCE.

What we don’t know yet

• The LAPD has not confirmed the number of injuries or the condition of victims struck by the U-Haul in Westwood.
• Specific details regarding the alleged discrepancies in Powell's testimony have not been disclosed by the Justice Department.
• The total number of Value City Furniture closures outside of the Ohio market remains unverified.
• The identity of the suspects involved in the Catonsville commercial break-ins has not been released.

Why it matters

• A criminal investigation into a sitting Federal Reserve Chair creates significant uncertainty for financial markets and central bank independence.
• The Los Angeles vehicle incident raises immediate public safety and security concerns regarding political demonstrations.
• The Alaska Senate race could determine the balance of power in the chamber following the 2026 midterm elections.
• The liquidation of 21 furniture stores indicates a contraction in the regional retail sector in Ohio.

What’s next

• Federal Reserve officials must respond to grand jury subpoenas as part of the ongoing DOJ investigation.
• The Los Angeles Police Department is expected to provide an update on the driver of the U-Haul and potential criminal charges.
• Green Bay Packers coach Matt LaFleur is scheduled to meet with team president Ed Policy to discuss his tenure.
• The New York state legislature is expected to review Governor Hochul’s proposed child safety regulations for gaming platforms.
• The full list of MIT Technology Review’s 10 Breakthrough Technologies for 2026 is scheduled for public release.