DOJ Drops Powell Probe in Fast Reversal, Clearing Warsh Confirmation Path
BeInCrypto
The DOJ ended its investigation into Jerome Powell, removing a key obstacle to the Senate confirmation of his successor, Kevin Warsh.Summary
The US Department of Justice has dropped its criminal investigation into Federal Reserve Chair Jerome Powell following judicial pushback and political pressure. Prosecutors had scrutinized Fed building renovation costs, but a federal judge recently dismissed their subpoenas as lacking evidence and appearing politically motivated. By ending the probe, the DOJ has removed a barrier for Senator Thom Tillis, who had linked his support for Kevin Warsh's confirmation as the next Fed chair to the resolution of this investigation. The matter is now referred to the Fed's inspector general, clearing the path for the Senate to move forward with the confirmation process.
(Source：BeInCrypto)