DOJ says it will not reopen criminal probe into former Fed Chair Powell
The Fed inspector general found no criminal referral grounds, while Attorney General Todd Blanche left open further review if new evidence emerges.
- On Friday, Attorney General Todd Blanche told Bloomberg News the Justice Department will not reopen a criminal probe into former Federal Reserve Chair Jerome Powell regarding building renovation cost overruns.
- The Fed's inspector general found no grounds for a criminal referral or evidence of administrative misconduct on Wednesday, though its conclusion of lax oversight prompted President Donald Trump to call for Powell's resignation.
- Powell has remained on the Board as a governor since stepping down as chair in May, having previously stated he would not leave until the investigation concluded with transparency and finality.
- Fed Chairman Kevin Warsh said on Thursday he would hire an independent auditor to "verify accuracy and compliance" for all of the project's costs.
- Attorney General Blanche did not rule out further scrutiny of the project's oversight, noting the Justice Department could take action if evidence of wrongdoing comes to light.
14 Articles
14 Articles
DOJ says it will not reopen criminal probe into former Fed Chair Powell
Justice Dept Won’t Reopen Criminal Probe Into Fed’s Powell
“The U.S. Justice Department isn’t reopening a criminal investigation into former Federal Reserve Chair Jerome Powell for cost overruns related to the central bank’s building renovation project,” Bloomberg reports. “Attorney General Todd Blanche didn’t rule out continuing to look into the project’s oversight and potentially take action if evidence of wrongdoing came to light.”
The spokesman-Review
GV WireDOJ will not reopen criminal probe into Fed's Powell, spokesperson says
The U.S. Justice Department is not reopening a criminal probe into former Federal Reserve Chair Jerome Powell for cost overruns related to the central bank's building renovation project, a DOJ spokesperson said on Friday. Attorney General Todd Blanche, in comments to Bloomberg News, which first reported the development, said he has not ruled out continuing to look into the project's oversight and potentially take action if evidence of wrongd…
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