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US federal prosecutors open inquiry into US Fed chair Powell, NYT reports

BY Reuters | ECONOMIC | 01/11/26 07:25 PM EST

Jan 11 (Reuters) - The U.S. attorney's office in the District of Columbia ?has opened a criminal ?investigation into Federal Reserve ?chair Jerome Powell ?over ?the central bank's renovation of ?its Washington ?headquarters and whether Powell lied to ?Congress ?about ?the scope of the project, the New ?York Times reported on Sunday.

The inquiry, which includes an analysis of Powell's ?public statements ?and an examination of spending ?records, was approved in November by Attorney Jeanine Pirro, the NYT reported citing officials briefed ?on the situation. (Reporting by Rishabh Jaiswal in ?Bengaluru; Editing by Himani Sarkar)

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In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

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