Justice Department drops probe into Fed Chair Jerome Powell
Summary
The Justice Department has ended its criminal investigation into Federal Reserve Chairman Jerome Powell. The probe is now being handed over to the Fed’s inspector general to look into possible cost issues with the central bank’s building renovations.Key Facts
- Federal prosecutors are closing their criminal investigation into Jerome Powell.
- The investigation was related to the Federal Reserve’s Washington, D.C. headquarters renovation.
- The Fed’s inspector general will take over looking into potential cost overruns.
- U.S. Attorney Jeanine Pirro said the investigation could restart if new evidence appears.
- The inspector general is expected to provide a detailed report on findings.
- The probe’s end clears a major hurdle for President Trump’s pick to lead the Federal Reserve Board of Governors.
- The original investigation involved subpoenas issued as part of the inquiry.
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