DOJ won't reopen criminal probe into former Fed Chair Powell

· Economy · United States

The Justice Department said it will not reopen a criminal probe into former Fed Chair Jerome Powell, after the Fed's inspector general found no grounds for a criminal referral over a mismanaged headquarters renovation.

Why it matters：Closing the matter removes a political cloud over the Fed and its leadership as the central bank navigates a delicate rate and inflation environment.

Key points

  • The Fed's inspector general found no grounds for a criminal referral
  • The probe concerned a mismanaged headquarters renovation
  • DOJ confirmed it will not reopen the case

Sources (original reporting)

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