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Prosecutor conceded lack of criminal evidence in Federal Reserve investigation, transcript shows
A DOJ prosecutor acknowledged no evidence of wrongdoing by Powell in the $2.5 billion Fed renovation probe, leading to quashed subpoenas and judicial criticism of the investigation.
- On Tuesday, a transcript revealed Assistant U.S. Attorney Andrew Massucco admitted in a closed-door hearing that the Justice Department lacks evidence of criminal misconduct by Federal Reserve Chair Jerome Powell regarding a $2.5 billion renovation.
- President Donald Trump launched the investigation following months of criticism over the Federal Reserve's $2.5 billion headquarters overhaul and Powell's refusal to lower interest rates, fueling fears of political interference in monetary policy.
- Chief Judge James Boasberg recently quashed government subpoenas, writing that prosecutors produced "essentially zero evidence" to suspect Powell of a crime and describing their justifications as "thin and unsubstantiated."
- The criminal probe has delayed Senate consideration of Kevin Warsh, President Trump's nominee to replace Powell, with Republican Sen. Thom Tillis insisting the banking committee withhold any confirmation vote until the investigation is resolved.
- While prosecutors argued the $1.2 billion cost overrun justified their scrutiny, critics labeled the probe "Another Trump Team retribution bungle," undercutting claims of criminality in the Fed's project.
87 Articles
87 Articles
Pirro deputy admits feds couldn’t find criminal evidence against Powell
An assistant U.S. Attorney acknowledged to a federal judge earlier this month that the Justice Department had no criminal evidence against Federal Reserve Chair Jerome Powell. Andrew Massucco, a deputy to U.S. Attorney for the District of Columbia Jeanine Pirro, made the admission to Judge James Boasberg on March 3, according to a sealed transcript…
Prosecutor Admits No Evidence In Case Against Fed Chair Powell: Report
A federal prosecutor told a judge there was no evidence of criminal wrongdoing by Jerome Powell in the costly renovation of the Federal Reserve’s headquarters, according to a court transcript reported by CNN. The Justice Department had launched a probe earlier this year following criticism from President Donald Trump over a $2.5 billion renovation project that ran significantly over budget. Prosecutors acknowledged they lacked evidence of fraud …
By Devan Cole. A federal prosecutor in Washington told a judge this month that his office had no evidence of any wrongdoing by Federal Reserve Chairman Jerome Powell in the costly renovation of the central bank's headquarters, despite court subpoenas on the matter, which the judge later dismissed. At a crucial hearing on March 3, prosecutor George A. Massucco-LaTaif was asked, “What evidence is there of fraud or criminal conduct in connection wi…
US Justice Department lacks evidence of wrongdoing by Fed chair, official testifies
Senior deputy to US attorney for DC acknowledges in closed-door hearing that department found no proof of misconduct in $2.5B Federal Reserve headquarters renovation, challenging President Trump’s claims - Anadolu Ajansı
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