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A source: The U.S. Department of Justice is expected to drop its criminal investigation into Powell

2026-07-21 08:24:33

Abstract generation in progress

ME News message: On April 27 (UTC+8), multiple insiders said the U.S. Department of Justice is expected to conclude, as early as Friday, the criminal investigation into Federal Reserve Chair Jerome Powell, thereby ending a standoff that could result in delays in 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 their investigation into alleged cost overruns related to renovation work at the Federal Reserve’s Washington headquarters and to hand the matter over to the Fed’s internal regulatory oversight body. Powell’s term ends next month, but in March he said he would remain in office until the Trump-nominated Federal Reserve chair candidate, Waller, is confirmed. (Source: Jinshi)

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