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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 its criminal investigation into Federal Reserve Chair Jerome Powell as early as Friday, thereby ending a deadlock that could lead to delays in the appointment of Powell’s successor. The sources said that senior DOJ officials have recently contacted several senators, including Tom Tillis, a Republican senator and a member of the Senate Banking Committee, informing them of plans to drop the investigation into alleged cost overruns in the renovation project of the Federal Reserve’s Washington headquarters and to refer the matter to the Fed’s internal regulatory bodies. Powell’s term will end next month, but in March he said he would remain in office until the Trump-nominated Federal Reserve chair candidate, Wash, is confirmed. (Source: Jin10)