Why is the DOJ dropping its Jerome Powell probe?
Summary
The Justice Department has stopped its criminal investigation of Federal Reserve Chair Jerome Powell. The probe looked into the $2.5 billion cost of renovating the Federal Reserve's main building in Washington, D.C.Key Facts
- The Justice Department was investigating Jerome Powell, who leads the Federal Reserve.
- The investigation focused on the renovation costs of the Federal Reserve headquarters.
- The estimated renovation cost was about $2.5 billion.
- The investigation was a criminal probe, meaning it looked for possible illegal activity.
- The Justice Department decided to drop the investigation, ending the probe.
- Jerome Powell is the Chair of the Federal Reserve, the U.S. central bank.
- The Federal Reserve headquarters is located in Washington, D.C.
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