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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 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 the 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 who sits on the Senate Banking Committee, to inform 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 ends next month, but in March he said he would remain in office until the confirmation of Washington, the Fed chair candidate nominated by Trump. (Source: Jin10)