On January 11, 2026, tensions escalated as the Department of Justice delivered grand jury subpoenas to the Federal Reserve. The move carries serious implications—criminal indictment charges are being threatened, reportedly stemming from Chair Powell's testimony delivered to the Senate Banking Committee. This development introduces significant uncertainty into the regulatory landscape. Market participants are closely watching how this unfolds, given Powell's central role in shaping monetary policy direction. The intersection of judicial pressure and Fed leadership raises critical questions about institutional stability and policy continuity in the months ahead.