Justice Department drops criminal probe of Fed chair Powell, likely clearing way for Warsh confirmation
Summary
The Justice Department has stopped its investigation into Federal Reserve Chair Jerome Powell. This decision removes an obstacle for confirming Kevin Warsh as the new Fed chair, as the Federal Reserve’s inspector general will now review the building renovation issues.Key Facts
- The Justice Department ended its criminal probe into Fed Chair Jerome Powell.
- The investigation focused on the Federal Reserve’s building renovations.
- The U.S. Attorney for the District of Columbia announced the probe’s end on social media.
- The Fed’s inspector general will now oversee the issue instead.
- This probe was one of several investigations related to people seen as opponents of President Donald Trump.
- Prosecutors had difficulty finding evidence of criminal activity in the case.
- Ending the probe helps clear the way for Kevin Warsh’s confirmation as the next Fed chair.
- Kevin Warsh recently testified in a Senate hearing about his nomination.
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