DOJ will not reopen criminal probe of Powell, Blanche says

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1. 2h ago

   DOJ declines to reopen criminal probe of former Fed Chair Jerome Powell

   The U.S. Justice Department will not reopen a criminal investigation into former Federal Reserve Chair Jerome Powell regarding cost overruns from the central bank's headquarters renovation project. Attorney General Todd Blanche confirmed the decision following a report from the Fed's inspector general, which found no grounds for a criminal referral. While the criminal probe remains closed, Blanche stated he has not ruled out continuing to examine the project's oversight or taking action if new evidence of wrongdoing surfaces.

   Why it matters

   The renovation project faced significant mismanagement and cost overruns, including a $1 billion overrun. Donald Trump previously used these issues as a reason to attempt to oust Powell from the Federal Reserve.

   What is confirmed

   • The DOJ is not reopening a criminal probe into former Fed Chair Jerome Powell over building renovation cost overruns.
   • The Fed's inspector general reported there were no grounds for a criminal referral regarding the mismanaged headquarters renovation.
   • Attorney General Todd Blanche said he has not ruled out continuing to look into the project's oversight.
   • The Fed's watchdog found no illegal activity or misconduct in the costly renovations.

   Still unconfirmed

   • The renovation project experienced a $1 billion cost overrun.
   • Donald Trump targeted three Fed governors for removal.

   What to watch next

   • New evidence of wrongdoing related to the Fed building renovations.
   Sources used for this update (18)

   1. The Washington Post — Watchdog finds Fed mishandled renovations that Trump tried to oust Powell over
   2. The New York Times — Fed’s Watchdog Finds No Misconduct or Illegal Activity in Costly Renovations
   3. forbes.com — Trump Says Jerome Powell Should Be ‘Forced’ To Resign
   4. CNBC — Trump could target three Fed governors. Removing them may be harder than it looks
   5. Fox Business — Fed's Warsh cracks down on HQ renovation, taps GSA to lead
   6. Bloomberg.com — Can Trump Oust Powell From the Fed Board? What to Know
   7. Politico — DOJ will not reopen criminal probe of Powell, Blanche says
   8. CNBC — DOJ says it will not reopen criminal probe into former Fed Chair Powell
   9. Yahoo Finance — Attorney General says he won't reopen investigation of former Fed Chair Jerome Powell
   10. Bloomberg.com — DOJ Not Reopening Criminal Probe Into Powell, Blanche Says
   11. The Guardian — DoJ declines to reopen investigation into former Fed chair Jay Powell
   12. WSJ — Opinion | The End of the Fed Building Fiasco
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