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Sources: The U.S. Department of Justice is expected to abandon the criminal investigation into Powell
ME News report: April 27 (UTC+8). Multiple sources familiar with the matter said 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 a standoff that could potentially delay 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 a member of the Senate Banking Committee, informing them that they plan 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 is set to end next month, but in March he said he would remain in the role until the Trump-nominated Fed chair candidate, Waller, is confirmed. (Source: Jin10)