US Justice Department drops investigation into Fed Chair Jerome Powell
The US Justice Department has officially ended its investigation into Federal Reserve Chairman Jerome Powell concerning the organisation's extensive building renovations.This decision was announced after prosecutors acknowledged that no evidence of criminal activity had been found.The inquiry focused on a $2.5 billion renovation project at the Federal Reserve, which had drawn criticism for cost overruns.The investigation was seen as a pressure tactic by the Trump administration to influence Federal Reserve policy, particularly regarding short-term interest rates.The closure of the probe removes a significant obstacle to the confirmation of Kevin Warsh, President Trump's nominee to succeed Powell as Federal Reserve Chair.Warsh's... [Continue Reading]
360LiveNews | 25 Apr 2026 03:00 LONDON
US Justice Department Ends Criminal Probe of Fed Chair Jerome Powell
The US Justice Department has officially ended its criminal investigation into Federal Reserve Chair Jerome Powell concerning cost overruns in the central bank's building renovations.This decision removes a significant obstacle to the Senate confirmation of Powell's nominated successor, Kevin Warsh.US Attorney for the District of Columbia Jeannine Pirro announced that her office would cease its probe and instead refer the matter to the Federal Reserve's Office of Inspector General for further scrutiny.Pirro emphasized that the inspector general has the authority to hold the Federal Reserve accountable to taxpayers and expects a comprehensive report soon.The investigation had been part of a... [Continue Reading]
360LiveNews | 24 Apr 2026 18:01 LONDON
