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Sources: The U.S. Department of Justice is expected to abandon the criminal investigation into Powell
Golden Finance reported on April 24 that multiple sources with knowledge of the matter revealed that the U.S. Department of Justice is expected to conclude its criminal investigation into Federal Reserve Chair Jerome Powell as early as Friday, thereby ending the deadlock that could result in delays to the appointment of Powell’s successor. The sources said that in recent days, senior DOJ officials contacted several senators, including Tom Tillis, a Republican senator and member of the Senate Banking Committee, to inform them that they plan to drop the investigation into alleged cost overruns in renovation work at the Federal Reserve’s Washington headquarters and to hand the matter over to the Federal Reserve’s internal supervisory bodies. Powell’s term is set to end next month, but in March he said he would remain in office until “Powell’s successor,” the Federal Reserve chair candidate, Wash, nominated by Trump, is confirmed. (ABC News)