Trump's DOJ Drops Probe of Fed Chair Jerome Powell
Summary
The Department of Justice (DOJ) has ended its investigation into Federal Reserve Chairman Jerome Powell. The DOJ will let the Federal Reserve’s Inspector General review the costly building renovations and decide if any further action is needed.Key Facts
- DOJ Attorney Jeanine Pirro announced the closure of the investigation into Fed Chair Jerome Powell.
- The Federal Reserve Inspector General (IG) will now review the billion-dollar cost overruns related to building renovations.
- The IG has the power to hold the Federal Reserve responsible for how taxpayer money is spent.
- Pirro said her office will reopen the investigation if new facts justify it.
- The investigation had caused problems for President Donald Trump’s nominee for Fed Chair, Kevin Warsh.
- Senator Thom Tillis had withheld support for Warsh due to the ongoing DOJ probe.
- Jerome Powell said the DOJ subpoenas were a form of retaliation linked to his disagreements with President Trump over interest rate policies.
- The DOJ did not comment beyond confirming Pirro’s announcement.
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