DOJ Drops Probe into Powell and Fed Renovations

The US Department of Justice has dropped its investigation into the Federal Reserve and its chairman, Jerome Powell. The decision was made public by Politico.

According to reports from multiple news sources, including The New York Times and CNBC, the investigation had been ongoing for some time. However, it appears that the DOJ has now closed the probe.

CNBC reported that the investigation was related to renovations at the Federal Reserve’s headquarters in Washington D.C. Additionally, CNN stated that the probe was also linked to a criminal case involving former US Representative Chris Collins and his associate, Peter Wilmot.

The Wall Street Journal noted that the decision to drop the probe may have implications for Kevin Warsh, who is reportedly being considered as a potential successor to Powell as chairman of the Federal Reserve.

It’s worth noting that Democratic senators had expressed concerns about the investigation, with some suggesting that it could be reopened at any time. However, the DOJ has now confirmed that the probe is closed.

The details surrounding the investigation and its outcome are still unclear, but it appears that the decision to drop the probe may have been made in response to new information or developments.

Source: Google News World