Fed's Powell reveals DOJ has subpoenaed the central bank and is threatening a criminal indictment against him

January 12, 2026

Fed's Powell reveals DOJ has subpoenaed the central bank and is threatening a criminal indictment against him

Breaking News

Image source: Lummi



Federal Reserve Chair Jerome Powell revealed Sunday night that the Justice Department served the central bank with grand jury subpoenas, threatening a criminal indictment related to Powell’s testimony before the US Senate.

Powell suggested the action isn’t so much about his testimony as it is about a difference of opinion on interest rates.

In a statement, he stressed what he called “unprecedented action” that should be seen in the broader context of the administration's threats and ongoing pressure.

“The threat of criminal charges is a consequence of the Federal Reserve setting interest rates based on our best assessment of what will serve the public, rather than following the preferences of the President,” Powell said in a recorded video.

Investors are now turning their attention to the first major catalysts of 2026: earnings season and key inflation data. Several of Wall Street’s biggest banks are set to report in the coming days, including JPMorgan Chase (JPM), Bank of America (BAC), Wells Fargo (WFC), Citigroup (C), Goldman Sachs (GS), and Morgan Stanley (MS).

Yahoo Finance reports.

EdgeUp

⚛️ Oklo stock jumps again in premarket as Meta nuclear deal keeps company in focus

Shares of Oklo Inc jumped roughly 7.9%, reaching $105.31 in early premarket action on Monday.

The rally extends last week’s momentum, driven by renewed Big Tech interest in reliable power—a trend funneling capital into nuclear and its supply chain.

Oklo’s appeal isn’t current output but the prospect of a long-term contract and a quicker route to funding.

Meta Platforms announced on Friday it has sealed 20-year deals to buy power from three Vistra nuclear plants and will collaborate with Oklo and TerraPower on small modular reactors (SMRs)—smaller, more easily replicated reactors compared to traditional large facilities. TechStock² reports.


🧠 Tempus AI stock rallying premarket — the latest

Tempus AI shares were 8.34% higher in premarket trading at $71.80, following a 6.15% decline over the past month.

The recent pullback comes even as the company highlights record contract values and strategic collaborations, presenting a mixed picture for investors.

A key highlight for Tempus AI has been its total contract value, which exceeded $1.1 billion as of Dec. 31, 2025. AskTraders reports.


💳 Credit-card stocks are slumping, but analysts say a 10% rate cap is far from a done deal

If successful in enacting a one-year cap on credit-card interest rates, President Donald Trump could dramatically alter financial-sector earnings and business models.

But investors shouldn’t panic just yet, as one analyst sees his proposal as “highly unlikely” to come to fruition.

The president put out a surprise social-media post on Friday, saying he planned to follow through with a campaign promise for a 10% cap on credit-card annual percentage rates, starting Jan. 20. MarketWatch reports.


🛢️ Exxon Mobil could reportedly be cut from Venezuela deals over CEO remarks

Exxon Mobil could be excluded from any Venezuela oil deals after its chief executive made comments that appeared to rankle US President Donald Trump, according to media reports.

Chief Executive Darren Woods said after a meeting at the White House that Venezuela was “uninvestable” and would require “some pretty significant changes” before major oil companies would enter, CNBC reported.

Trump said Sunday he would “probably be inclined to keep Exxon out” of Venezuela deals. MarketScreener reports.


🛒 Walmart and Google to launch new AI-assisted shopping feature

Walmart and Google said Sunday they plan to make shopping more convenient by pairing the Gemini artificial intelligence assistant with Walmart and Sam’s Club.

Gemini will automatically include Walmart and Sam’s Club products when relevant, the companies said.

When customers link their accounts, Walmart will recommend complementary items based on previous purchases.

The companies said they aim to initially launch the feature directly within Gemini in the US, followed by an international rollout. MarketScreener reports.

Top 5 Movers in Early Pre-Market

(All pricing and percent gains are based on Early Pre-Market from 4:00 AM to 7:00 AM Eastern Time)
Stock Analysis reports.


1) BDSX: Biodesix, Inc.
Total gain: +35.71%

2) ABVX: ABIVAX Société Anonyme
Total gain: +31.06%

3) ANPA: Rich Sparkle Holdings Limited
Total gain: +27.15%

4) INBS: Intelligent Bio Solutions Inc.
Total gain: +20.65%

5) DAWN: Day One Biopharmaceuticals, Inc.
Total gain: +17.34%

Friday’s Biggest Movers

The closing price of the top three market percent gainers trading near or above $3 on January 9.
Stock Analysis reports.

*All pricing and percent gains are based on regular market trading hours from 9:30am to 4:00pm Eastern Time

1) ANPA: Rich Sparkle Holdings Limited
Total gain: +258.88%
The company announced today that it has completed the acquisition of Step Distinctive Limited, a core company associated with Khaby Lame. The move signals a shift from one-off brand deals to a structured, exclusive, full-chain, platform-style commercialization system—designed not merely to monetize attention, but to industrialize it. PR Newswire reports.

2) NBY: NovaBay Pharmaceuticals, Inc.
Total gain: +102.54%
The stock appeared to be moving on no notable news.

3) VLN: Valens Semiconductor Ltd.
Total gain: +58.97%
The stock appeared to be moving on no notable news.

Today’s Notable Earnings

*Estimate and Actual numbers represent Earnings Per Share in US Dollars


WLTH: Wealthfront
Q3 2026
After Market Close
Estimate: 0.200
Actual: N/A

SIFY: Sify Technologies
Q3 2026
Before Market Open
Estimate: -0.010
Actual: N/A

Today’s Economic Dates

Time (ET)/ Report/ Period

8:00 AM - Richmond Fed President Tom Barkin speaks - N/A
12:30 PM - Atlanta Fed President Raphael Bostic speaks - N/A
6:00 PM - New York Fed President John Williams speaks - N/A

Parting Thoughts

“Long-term success comes from separating value from popularity.”

– Hisashi Ishii

Sourced in: Japanese Value Investing Insights.

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