DOJ Drops Powell Probe, Successors Confirmation Remains in Limbo

The Department of Justice (DOJ) has announced that it is closing its criminal investigation into Jerome Powell, the current Chairman of the Federal Reserve. The decision was made by Attorney General Merrick Garland.

According to reports, the DOJ had launched an investigation into Powell in 2022, but no charges have been filed against him. The investigation focused on allegations related to Powell’s involvement in the renovation of the Fed’s headquarters and his potential conflicts of interest.

In a separate development, Senator Jeanine Pirro has announced that she is dropping her own criminal probe into Powell. Pirro had launched an investigation into Powell’s activities as part of her oversight duties as chair of the Senate Homeland Security Committee.

The DOJ has stated that it will not comment further on the investigation or its outcome. The decision to close the investigation marks a significant development in the ongoing controversy surrounding Powell’s role at the Fed.

Powell is set to appear before the Senate Banking Committee next week, where he will face questions about his tenure as Fed Chair and any potential conflicts of interest. His confirmation hearing has been delayed due to the ongoing investigations and controversy surrounding him.

The developments come as the Federal Reserve faces increasing scrutiny over its independence and potential conflicts of interest. The Fed’s role in regulating the financial system is a contentious issue, with some arguing that it should be more independent from political interference.

The DOJ’s decision to close the investigation into Powell marks an important milestone in the ongoing controversy surrounding his tenure at the Fed. However, the issue remains unresolved, and Powell’s confirmation hearing will likely continue to be closely watched by lawmakers and the public.

Source: Google News World