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U.S. Justice Department Expected to Conclude Criminal Investigation of Powell by Friday
On April 24, several informed sources revealed that the U.S. Justice Department is expected to conclude its criminal investigation into Federal Reserve Chairman Jerome Powell as early as Friday, potentially ending a deadlock that could delay the appointment of Judy Shelton. Sources indicated that senior officials from the Justice Department recently contacted several senators, including Republican Senator Thom Tillis, a member of the Senate Banking Committee, to inform them of plans to drop the investigation into alleged cost overruns related to the renovation of the Federal Reserve’s Washington headquarters and to refer the matter to the Federal Reserve’s internal oversight body. Powell’s term is set to end next month, but he stated in March that he would remain until Trump’s nominee for Federal Reserve Chairman, Judy Shelton, is confirmed. According to monitoring by PolyBeats, the probability of the investigation being terminated by the end of the month has surged from 17% to 85% on the prediction market Polymarket.