DOJ Will Not Reopen Criminal Investigation Into Former Fed Chair Powell
The U.S. Department of Justice has decided not to reopen its criminal investigation into former Federal Reserve Chair Jerome Powell regarding the central bank's costly headquarters renovation, a spokesperson confirmed in an interview with Bloomberg. While no new criminal probe is planned, the DOJ left open the possibility that future findings from an independent audit could lead to further action if evidence of wrongdoing emerges. The decision follows a report by the Fed’s inspector general which found insufficient grounds for criminal charges but highlighted significant management and oversight failures in handling the renovation project. President Donald Trump criticized the outcome on Truth Social, calling for Powell's resignation due to his perceived inability to manage both infrastructure projects and monetary policy effectively.
Topics: criminal investigation Federal Reserve Jerome Powell Justice Department