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US Justice Department drops criminal probe of Federal Reserve chair Jerome Powell
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The United States Justice Department has closed its inquiry into Federal Reserve Chair Jerome Powell regarding cost overruns in renovations of the Fed's Washington headquarters. This decision removes a legal obstacle to the confirmation of Kevin Warsh, President Donald Trump's nominee for head of the central bank. US Attorney Jeanine Pirro transferred the matter to the Fed's Office of Inspector General. The probe had previously been blocked by a federal judge and opposed by Republican Senator Thom Tillis, who deemed it baseless.
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US Justice Department closes probe into Federal Reserve Chair Jerome Powell
The decision removes a legal barrier previously cited by Senator Thom Tillis and follows a judicial ruling that found the original subpoenas lacked evidentiary basis.