The United States Justice Department confirmed on Friday that it will not pursue a reopened criminal investigation into former Federal Reserve Chair Jerome Powell concerning alleged cost overruns tied to the central bank’s building renovation project.
According to a department spokesperson, the decision closes the specific inquiry into Powell. The matter was initially reported by Bloomberg News.
Attorney General Todd Blanche indicated to Bloomberg that while the investigation into Powell is not being reopened, he has not eliminated the possibility of continued scrutiny regarding the project’s oversight. Blanche stated that further action could be taken if evidence of wrongdoing emerges during any future reviews of the renovation.
Powell, who preceded Kevin Warsh, had been the subject of the probe regarding financial discrepancies associated with the infrastructure work.
Typical. Billions over budget and the top guy walks free while regular folks struggle with inflation.
‘Not eliminated possibility of scrutiny’ is classic lawyer-speak for ‘we’re watching you.’ Don’t get comfortable, Jerome.
Wait, did Kevin Warsh really replace Powell as Fed Chair? That timeline feels… off. Can someone verify this?
Glad Powell escapes this. The renovation costs were scandalous enough without involving the central bank’s leadership in criminal probes.