The war between the White House and the Federal Reserve has taken a bizarre and tactical turn. Fox Business reports that the Department of Justice’s criminal investigation into Chair Jerome Powell is officially centered on “financial irregularities” regarding the renovation of the Federal Reserve’s headquarters.

While the administration claims this is a matter of fiscal responsibility and “draining the swamp,” political and financial analysts almost unanimously view the “HQ Renovation” charge as a pretext. Unable to legally fire the Fed Chair for refusing to lower interest rates (a policy disagreement), the DOJ appears to be using a bureaucratic technicality to force his resignation or arrest.

This strategy—often referred to as “finding the crime to fit the man”—signals that the administration has abandoned any pretense of respecting the central bank’s independence. By targeting Powell on a procedural issue like building maintenance costs, they aim to install a loyalist who will comply with the President’s demand for a 10% interest rate cap without technically changing the laws governing the Fed.

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