BREAKING: The DOJ is expected to drop its criminal investigation into Federal Reserve Chair Jerome Powell as soon as Friday, according to multiple sources cited by ABC News, ending a standoff that threatened to delay confirmation of Powell’s expected successor, Kevin Warsh.
Senior DOJ officials have reportedly informed senators in recent days that they plan to close the probe and refer allegations tied to cost overruns at the Federal Reserve’s Washington headquarters to the central bank’s internal watchdog.
The investigation became a political flashpoint after Sen. Thom Tillis said he would block Federal Reserve nominations, including the next chair vacancy, until the matter was resolved. Powell’s term ends next month, though he has said he would remain in the role until a successor is confirmed.
