Politics

U.S. Attorney Jeanine Pirro Exposes Federal Reserve Cost Overruns

Published

3 months ago

January 15, 2026

VORNews

Pirro Exposes Federal Reserve Cost Overruns

WASHINGTON, D.C. – U.S. Attorney for the District of Columbia Jeanine Pirro spent the week defending her office’s criminal investigation into Federal Reserve Chair Jerome Powell and the Fed’s headquarters renovation project.

The inquiry has rattled financial markets and sparked a fight on Capitol Hill. It focuses on reported cost overruns topping $1 billion and whether Powell misled Congress in sworn testimony.

Pirro, a former Fox News host and a long-time ally of President Donald Trump, said the case is standard oversight, not payback. She was confirmed as U.S. attorney in August 2025 after an interim appointment in May. In an appearance on Fox News’ Hannity on January 14, she said her office tried several times to contact the Federal Reserve over the winter holidays and got no response.

In a post on X late January 13, Pirro wrote that the U.S. Attorney’s Office reached out “on multiple occasions” to discuss cost overruns and Powell’s congressional testimony, then moved to legal process after being ignored.

She added that the legal process “is not a threat.” In interviews, she repeated the same point and said the situation could have been avoided if the Fed had responded to outreach.

The investigation received approval in November 2025. It escalated on January 9, when prosecutors issued grand jury subpoenas seeking documents and testimony tied to Powell’s June 2025 appearance before the Senate Banking Committee.

The renovation of the Federal Reserve’s historic headquarters buildings on the National Mall reportedly rose from about $1.9 billion to $2.5 billion, raising concerns about management decisions and the accuracy of public disclosures.

How the Investigation Started: Missed Replies and Spending Concerns

Pirro has described the probe as a basic push for accountability around taxpayer dollars. In media appearances, she stressed the scale of the overspending, saying it was not “a million” or “ten million” but “a billion dollars” in overruns. She said a gap that large can point to serious problems, including possible fraud or embezzlement, and she pressed for answers on where the money went.

People familiar with the outreach said the U.S. Attorney’s Office sent two emails during the December holidays. Those messages did not include a stated deadline or clearly signal a criminal investigation. After no reply, prosecutors quickly moved to subpoenas.

Pirro has said the steps her office took were based on the facts, and she rejected claims that the probe is tied to the Trump administration’s long-running complaints about Powell and interest rate policy.

Powell Pushes Back, Warns About Fed Independence

Powell responded on January 11 with an unusual video statement, calling the subpoenas “unprecedented” and describing them as an attempt to intimidate the central bank. He linked the investigation to pressure from the White House over monetary policy, saying the threat of criminal charges followed the Fed’s choice to set rates based on its best judgment rather than presidential preference.

Powell said he respects the rule of law and agreed with the idea that no one is above it, including the Fed chair. He also said the Federal Reserve kept Congress fully informed about the renovation project.

Capitol Hill Reaction and Wider Blowback

The investigation has drawn criticism from both parties. Republican senators on the Senate Banking Committee, including Lisa Murkowski and Thom Tillis, have condemned the probe and described it as an effort to push the Fed.

Murkowski called for a congressional review of the Department of Justice. Former Fed Chairs Alan Greenspan, Ben Bernanke, and Janet Yellen, along with other economists, issued a joint statement warning that the case could weaken the central bank’s independence.

Reports have also pointed to frustration inside the Trump administration, with some officials said to be surprised by the subpoenas and upset about a lack of coordination. President Trump has publicly distanced himself, telling NBC News he did not know about the action in advance and that his main concern remains high interest rates.

Pirro has not backed down. On Hannity, she said her office is not attacking the Fed’s independence; it is doing its job. She also pushed back on critics, including some Republicans, arguing that no public official should be treated as off limits to investigators.

What It Could Mean for the Federal Reserve and Economic Policy

The dispute highlights the strain between the executive branch and the Federal Reserve, an agency designed to operate with independence so that monetary policy remains credible. Legal experts have noted that charges such as perjury generally require strong proof that a false statement was intentional, which can be difficult to establish.

As the investigation continues, attention remains on whether the Federal Reserve cooperates in ways that prevent further escalation. Pirro has said she expects Powell’s full cooperation, and she has returned often to her central message: no one is above the law.

The story is moving quickly, with potential effects on financial markets, Fed governance, and the ongoing debate over political influence on economic policy. Lawmakers and market watchers are now waiting to see whether Congress schedules hearings or the Justice Department takes additional steps in the weeks ahead.

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DOJ Issues Grand Jury Subpoena to Federal Reserve Over $2.5 Billion Renovation Overruns

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Politics

President Trump Addresses Nation on War with Iran

Published

13 hours ago

April 2, 2026

VORNews

President Trump Addresses Nation on War with Iran

WASHINGTON, D.C. – President Donald Trump addressed the American public from the White House on Wednesday night in his first prime-time national address since the United States and Israel launched coordinated strikes on Iran in late February, declaring that American military objectives are on the verge of being achieved and that the conflict, now in its 32nd day, will conclude “very shortly.”

Speaking for roughly 19 minutes, the president said U.S. forces have achieved “overwhelming victories” but did not offer a definitive timeline as questions swirled about when and how the war could formally wrap up.

According to a White House official ahead of the address, the president was expected to reaffirm his intention to end the war within the next three weeks and relay an “operational update” on the progress of the conflict, which he and top administration officials have characterized as running ahead of schedule.

“Operation Epic Fury”: Four Goals, One Deadline

“I’ve made clear from the beginning of Operation Epic Fury that we will continue until our objectives are fully achieved,” Trump told the nation. “Thanks to the progress we’ve made, I can say tonight that we are on track to complete all of America’s military objectives shortly, very shortly.”

The president again outlined the four core objectives the White House says it is pursuing: destroying Iran’s missiles and production facilities, annihilating its navy, ensuring Iran can no longer support regional militant groups, and guaranteeing that Tehran cannot obtain a nuclear weapon.

Trump reminded the nation that past American conflicts — World War I, World War II, the Korean War, the Vietnam War, and the war in Iraq — lasted for years, while he expects this operation to conclude soon. “We are in this military operation, so powerful, so brilliant, against one of the most powerful countries for 32 days, and the country has been eviscerated,” he said.

Threats Against Iran’s Energy Infrastructure

In some of the speech’s most pointed language, Trump escalated his warnings against Tehran, threatening severe consequences if Iran’s leadership refuses to negotiate.

The president said the U.S. will hit Iran “extremely hard” over the next two to three weeks and threatened to obliterate all of Iran’s electric generating plants and target its oil sites if the country’s leaders don’t make a deal.

Trump had previously threatened to destroy Iran’s water and energy infrastructure if a deal to end the war and reopen the key trade route is not reached soon. Wednesday night’s address signaled no retreat from that posture.

The remarks drew immediate condemnation from international observers and human rights organizations who warned that targeting civilian energy infrastructure could constitute a violation of the Geneva Convention.

The Strait of Hormuz: An Economic Crisis at Choke Point

Central to Wednesday’s address was the closure of the Strait of Hormuz, the narrow waterway through which roughly one-fifth of the world’s oil supply passes. Iran has effectively shuttered the passage since the war began, triggering a cascading global economic shock.

As a result of the war, Iran has sharply curtailed traffic through the Strait of Hormuz, leading to higher oil prices, with gasoline in the U.S. now averaging more than $4 per gallon — a level not seen since 2022.

Higher fuel costs are beginning to ripple through prices on a wide variety of goods. The Strait’s closure has also raised the price of some fertilizers, hurting farmers.

Trump told allies that countries heavily relying on the Strait of Hormuz “must take care of that passage” and “grab it and cherish it,” suggesting nations struggling to secure sufficient fuel should purchase it from the United States. He added that once the conflict concludes, “the strait will open up naturally.”

Earlier in the day, Trump had urged allies who did not join the war but are facing fuel shortages to “build up some delayed courage, go to the Strait, and just TAKE IT,” saying the United States “won’t be there to help you anymore.”

Iran Rejects Ceasefire Claims, Vows to Continue Fighting

Hours before Trump’s primetime address, the president posted on social media claiming Iran’s president had asked for a ceasefire — a claim Tehran flatly denied.

Iran’s foreign minister called Trump’s claim “false and baseless,” according to a report on Iranian state television.

Iranian Foreign Minister Abbas Araghchi told Al Jazeera that Tehran is not in direct negotiations with Washington, despite Trump’s claims that the U.S. is in “serious discussions” with what he described as a “new, and more reasonable regime” in Iran. “Negotiation is when two countries engage in talks to reach an agreement, and such a thing does not exist between the United States and us,” Araghchi said.

Iran’s foreign minister also said his country is prepared for “at least six months” of war, directly contradicting Trump’s two-to-three-week timeline for wrapping up the operation. “We do not set any deadlines for defending ourselves,” Araghchi told Al Jazeera. “We will defend our country and our people as far as necessary and by any means required.”

Regime Change and Nuclear Ambiguity

Trump addressed the sensitive issue of regime change, saying, “Regime change was not our goal. We never said regime change. But regime change has occurred because of the deaths of all of their original leaders. They’re all dead. The new group is less radical and much more reasonable.”

On the question of Iran’s nuclear capability — cited by the administration as a central justification for launching the war — the president’s position remained notably ambiguous. Trump said Tuesday, “They will have no nuclear weapon, and that goal has been attained.” But he later hinted that another president may have to return to the issue in the future, saying Iran “will not be able to do a nuclear weapon for years.”

Netanyahu, for his part, asserted that the U.S.-Israeli strikes have eliminated Iran’s ability to produce nuclear weapons and ballistic missiles, thereby removing what he called “two existential threats” to Israel.

Lebanon, Gulf States, and the Widening War

Lebanon has become another major front in the larger Middle East war. More than 1,300 people in Lebanon have been killed in about four weeks of Israeli attacks, according to Lebanon’s Health Ministry, and more than a million people have been displaced by the fighting and Israel’s broad evacuation warnings.

A drone attack struck Kuwait International Airport’s fuel depots on Wednesday, causing a “massive blaze” with significant damage to fuel tanks, though no injuries were reported. Meanwhile, Bahrain’s Interior Ministry said it was working to extinguish a fire at a company facility following a separate Iranian drone attack.

Some Persian Gulf allies, including Saudi Arabia and the United Arab Emirates, have privately urged the Trump administration to press ahead with strikes on Iran to ensure the regime can no longer threaten the region with ballistic missiles and drones. “Our message is: Finish the job,” said one senior Gulf official.

Public Opinion and Political Pressures

The address comes at a politically fraught moment for the administration. Trump’s approval rating has continued to slide amid the war, hitting first-term lows in both the New York Times and RealClearPolitics polling averages.

New CNN polling shows just one-third of the American public believes Trump has a clear plan to handle the situation in Iran. Americans are not sold on the war’s costs, and significantly more Americans say the economy — rather than the war — is the most important issue facing the country.

Oil prices fell below $100 per barrel, and Asian shares surged on Wednesday over renewed optimism about a potential de-escalation following Trump’s suggestion he would likely end U.S. operations within several weeks. Brent crude, the international benchmark, dropped to $99.05 per barrel in early trading.

The foreign ministers of Pakistan and China issued a joint statement Tuesday calling for talks as part of a broader peace plan, demanding a ceasefire, an end to attacks on civilian infrastructure, and the reopening of the Strait of Hormuz.

As the conflict enters its second month with no formal ceasefire in sight, the coming days may prove decisive — a sentiment echoed by Defense Secretary Pete Hegseth, who declared earlier this week that the “upcoming days will be decisive” in the war with Iran.

This is a developing news story. Updates will be published as further information becomes available.

Politics

Swalwell Panics Demands FBI Halt Release of Fang Fang Spy Files

Published

13 hours ago

April 2, 2026

VORNews

Swalwell Panics, Demands FBI Halt Release of Fang Fang Spy Files

WASHINGTON, D.C. – Rep. Eric Swalwell from California battles FBI Director Kash Patel in a heated Washington showdown. Swalwell acts fast to stop the FBI from sharing files on a 10-year-old probe.

Those files link him to Christine “Fang Fang” Fang, a woman suspected of spying for China. She got close to several California Democrats back in the early 2010s.

Swalwell’s lawyers fired off a cease-and-desist letter to Patel on Monday. They demand he drop all plans to release the records right away. The probe never led to charges against Swalwell. For example, the Associated Press got a copy of the letter.

Top lawyers Sean Hecker and Norm Eisen signed it. They warn that Patel risks big legal trouble for himself, the FBI, and others. “You aim to smear him and hurt his run for California governor,” they state. They add that sharing the files breaks federal laws in key ways.

The letter sets a deadline. It asks Patel and the FBI to confirm in writing by Wednesday that they won’t release anything. So far, no public reply has come out.

Old Spy Probe Comes Back to Life

This story goes back over 10 years. Fang helped Swalwell raise funds. She also placed an intern in his office during his 2014 campaign. She first connected with his team in 2012 as he ran for Congress. Federal agents warned Swalwell in 2015.

They also briefed Congress then. Swalwell cut ties after that, he says.

No one ever charged him with anything wrong. A House Ethics probe started in 2021. It ended two years later with no action. The Justice Department skipped charges, too.

However, the case stirs again now. Critics point to the timing as no accident. FBI staff in California collect and edit documents now. They prep them for top Trump officials, says the New York Times. It cites three sources who know. The Washington Post broke the story first. They note this public release would break norms for cases without charges.

In addition, the Post reports something wild. The FBI eyes a visa for Fang to visit the U.S. She could talk to agents about Swalwell. Agents rarely do that with accused foreign spies.

Eric Swalwell Calls It Election Meddling

Swalwell speaks out strongly. He leads in the June 2 California governor’s primary. He sees the FBI push as a Trump White House trick to sway the race.

“It’s just 34 days until voting starts in California,” he told CNN’s Brianna Keilar on Monday. “Polls show us out front. The president wants his pick out West.”

On CNN, he calls any file release straight corruption. He compares it to J. Edgar Hoover’s FBI days, known for dirty politics.

Swalwell hits harder online. “Great reporting shows how far the White House goes after rivals,” he posted. “Trump fights me because I’m the frontrunner now, not just because of the governor race. Still, Trump and Patel don’t choose our governor. Voters do.”

Why Swalwell’s Team Says It’s Illegal

His lawyers list clear reasons to block the release. First, it breaks the 1974 Privacy Act. It also hits Swalwell’s First Amendment rights. “He helped the FBI in a closed case with no charges against him,” they write. “No real law enforcement need exists here.” Plus, it could harm sources and methods.

They call it pure politics, too. “You target him for his views. That violates the First Amendment,” the letter states.

The Justice Department sticks to a rule. It skips public shares on no-charge probes. Experts say changing that before a big primary would shock history.

Patel and Swalwell clashed before. In his 2023 book “Government Gangsters,” Patel named Swalwell among Trump’s foes. Now Patel controls those FBI files.

Patel mocked Swalwell publicly in December on Fox News. He joked about Swalwell dating Fang Fang again. Democrats slammed it as a personal grudge, not cop work.

The FBI defends its steps carefully. “This FBI shares more than ever,” a spokesperson says. “We prep docs for reviews by other agencies on old cases from past admins.” They skip details on Swalwell files or timelines.

Democrats Back Swalwell Hard

Top Democrats blast the moves. They see it as Trump using cops against enemies. Rep. Jamie Raskin leads the House Judiciary Democrats. “FBI smears a congressman, governor hopeful, and Trump foe,” he says. “How does that serve cops? It’s just partisan weapon use.”

Sen. Adam Schiff agrees. “Trump and his team hit DOJ foes again,” he posted on X. “Patel will do anything to pick California’s governor.”

This hits during California’s huge governor fight. Ten big names run: eight Democrats, two Republicans. Primary’s June 2. The top two advance to November, party aside. Polls this month put Swalwell high among Democrats. He even tops one Republican. That sets him up for the general.

Swalwell faces a DOJ referral, too, over alleged mortgage fraud. He calls it another attack. He dropped a suit on a housing official lately. Last September, he said he expected Trump to prosecute him. Patel’s book lists him as a “gangster.”

No one knows if files drop or when. Yet this Fang Fang fight spotlights big issues. It questions FBI independence, government attacks on rivals, and election-year power limits.

Swalwell risks his whole shot. Patel seems to plan it. California voters start early mail ballots in May. Who shapes the story might matter most in this race.

Politics

Democrat Megadonor Exposes How Clueless Harris Campaign Really Was

Published

13 hours ago

April 2, 2026

VORNews

Democrat Megadonor Exposes How Clueless Harris Campaign Really Was

WASHINGTON, D.C. – John Morgan, a big-time Democratic donor from Florida, went on Fox News and ripped into Kamala Harris’s 2024 campaign. He said Donald Trump’s son Barron showed more smarts than the whole Democratic team that spent a billion dollars.

Morgan runs Morgan & Morgan, a major personal injury law firm. He spoke with host Kayleigh McEnany after the election. His words spread fast in political news circles.

Barron Trump looks like a model, yet he told his dad to hit podcasts like Joe Rogan’s, Morgan explained. An 18-year-old freshman got it right. Seasoned pros with big salaries missed the mark on media.

“Barron Trump beats everyone on the Harris team,” Morgan stated flat out. Progressives skipped Joe Rogan because they did not like him.

Joe Rogan Snub Cost Democrats Big Time

Post-election talk centers on Joe Rogan. Trump’s October 25 interview hit 52 million views before Election Day. Harris’s clip from “Call Her Daddy” on October 6 stayed under one million views. Her team wanted Rogan to come to her for just one hour. He suggested his Austin studio for the usual three hours. That fell through.

Trump showed real commitment. He arrived three hours late to a rally after Rogan’s show, Morgan pointed out. Both sides differed on reaching new listeners.

Rogan’s YouTube channel has 18.6 million subscribers. Edison Research says 80% of viewers are men, and 51% are 18 to 34 years old. Harris needed young guys. Skipping this hurt badly, Morgan argued.

“If I ran things, I’d do Rogan and Fox nonstop,” he said. “That’s how you win hearts. They hid instead, so they lost hard. She should step aside for good.”

How Barron Trump Shaped the Podcast Wins

Barron acted like a secret media advisor. Jason Miller, a top Trump aide, told Politico that Barron picked key podcasts.

Those shows targeted young male fans of streamers and hosts. The plan worked well.

On Rogan’s show, Trump credited his son. “Barron’s smart and tall. He knows guys I’ve never heard of. He said they’re huge, Dad.”

Morgan highlighted this to show Democratic blind spots. Progressives stuck to their views. A teen saw clear chances they ignored.

Morgan slammed money handling, too. Harris raised over a billion dollars but ended twenty million in the red. They spent more than they took in.

Money flooded in with 100 days left. Ad buyers, talent, and consultants grabbed it all, Morgan said on NewsNation’s CUOMO show. “No ads run, no pay for some.”

Did they steal? “Maybe legally,” he replied. Lots of folks cashed in, but no crime was hinted at.

Spending shocked: fifteen million on events, four million on jets, one million to Oprah’s firm. Consultants chased fees in safe states like Florida.

“Donors fought Trump, but many got rich off it,” Morgan said. “This bars her forever. Can’t run a campaign? Can’t lead America.”

Harris Lacked Support and Skills from the Start

Morgan doubted Harris early on. Obama and Pelosi did not back her to replace Biden. Obama waited five days.

She ran before and got zero delegates, just 8% in California. Morgan begged party leaders to skip her. Biden tied her down. Voters rejected Trump, not her, he noted.

“She copies Obama,” he told McEnany. Trips to Hawaii, speech style, all fake. “She’s no Obama. Zero talent. No more runs for president.”

Harris chased anti-Trump folks. Trump built fans on podcasts instead.

Morgan’s voice carries weight as an insider. In July, he went independent on NewsNation. No cash for Harris. On X, he said you need real fire or job hopes to fundraise. He had neither.

He picked Andy Beshear or Joe Manchin as better leads. Democrats had choices but passed.

The billion-dollar flop sparked fights. DNC’s Lindy Li told NewsNation staff to quit over money mess.

Morgan’s final take stays simple. They burned cash, dodged Rogan, and ignored voters. A kid’s tips beat pros. That ends her shot at the top.

“You can’t run a campaign? You sure can’t run the country.”

John Morgan founded Morgan & Morgan, a top U.S. personal injury firm. He was a key Democratic donor. His Fox chat with Kayleigh McEnany went viral in late November and early December 2024.