DOJ drops criminal probe of Fed, Jerome Powell
Summary
The U.S. Justice Department ended its criminal investigation into Federal Reserve Chair Jerome Powell regarding renovations at the Federal Reserve. This decision may help Kevin Warsh, a former Fed board member, to be confirmed for a new role.Key Facts
- The Justice Department investigated Jerome Powell about Federal Reserve building renovations.
- The investigation was criminal in nature but has now been dropped.
- Jeanine Pirro, U.S. attorney for the District of Columbia, announced the decision.
- Jerome Powell is the current Chair of the Federal Reserve.
- Kevin Warsh, a former Federal Reserve board member, has been nominated for a position.
- Dropping the probe may help Kevin Warsh’s confirmation process.
- The Federal Reserve is America's central bank, responsible for managing money and interest rates.
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