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Sources: The U.S. Department of Justice is expected to abandon the criminal investigation into Powell
ME News report: On April 27 (UTC+8), multiple people familiar with the matter said the U.S. Department of Justice is expected to conclude, as early as Friday, its criminal investigation into Federal Reserve Chair Jerome Powell, thereby ending a stalemate that could lead to delays in the appointment of Powell’s successor. The sources said that in recent days, senior DOJ officials have contacted several senators, including Tom Tillis, a Republican senator and member of the Senate Banking Committee, informing them of plans to drop the investigation into alleged cost overruns in the renovation project at the Federal Reserve’s Washington headquarters and to hand the matter over to the Fed’s internal regulatory bodies. Powell’s term ends next month, but in March he said he would remain in office until the confirmation of Wash, the Fed chair candidate nominated by Trump. (Source: Jin10)