In a surprising turn of events, the U.S. Justice Department has decided to drop its criminal probe into Federal Reserve Chair Jerome Powell. This decision comes after U.S. Attorney Jeanine Pirro announced that the Fed’s inspector general will now be tasked with investigating cost overruns related to the renovation of the central bank’s headquarters in Washington, D.C.
The news of the dropped probe was met with mixed reactions, with some expressing relief that Powell would not be facing criminal charges, while others questioned the timing and motives behind the decision. The investigation into Powell and the Federal Reserve had been ongoing for some time, leading to speculation about potential wrongdoing within the central bank.
According to CNBC, the Justice Department’s decision to drop the probe was met with backlash from some senators who had been pressuring for a thorough investigation into Powell and the Fed’s handling of the headquarters renovation costs. However, with the inspector general now taking over the review, it remains to be seen what new information may come to light regarding the matter.
This development comes at a critical time for the Federal Reserve as it navigates the economic challenges posed by the ongoing COVID-19 pandemic. Powell’s leadership and decisions regarding monetary policy will continue to be closely scrutinized as the country looks to recover from the financial impact of the global health crisis.
In conclusion, the decision by the Justice Department to drop the criminal probe of Fed Chair Jerome Powell has sparked debate and speculation about the reasons behind the sudden shift in focus. As the inspector general takes over the investigation into the Federal Reserve’s headquarters renovation costs, the public will be watching closely for any new developments in this ongoing saga.
References:
1. CBS News: [Dallas Police Department throws retirement party for K-9 after he and his officer were shot](https://www.cbsnews.com/video/dallas-police-department-throws-retirement-party-k-9-officer-shot/)
2. CNBC: [DOJ drops criminal probe of Fed Chair Powell](https://news.google.com/rss/articles/CBMicEFVX3lxTE9jczczUG1oZTVpNTBBMHlDak50R0V6LVR4TkJDaTQ3eDNMZ2U3S2p1bUJMVTRPZG92eG84ekJhYTRiYjlZN0VyS0ZIc3NiamtSd1RzUThKRFdobXZScGVOSHFoQ3phQmRPSHlybTVzQ2TSAXZBVV95cUxOSVE0NzZhTzVUcXRmYzJxVVcxWmJYWnRFS0g2dm5KZnFndW5yMGJzV20wTHNHWG9idUJXSmlkNXZqWURDWm51d1JqWVFsQ2NNRjlMaFFfZWg0Wkd0N3dTRzNWUmdJZUJsMTBjczVoMG5MQXZ4NDBR?oc=5&hl=en-US&gl=US&ceid=US:en)
3. Quartz: [U.S. Justice Department dropped its criminal probe of Fed Chair Jerome Powell](https://qz.com/doj-drops-criminal-probe-jerome-powell-federal-reserve-042426)
Political Bias Index: Green (Neutral)
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