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Jerome Powell cleared as DOJ declines to reopen criminal probe into Fed renovation
The U.S. Department of Justice has announced it will not reopen a criminal investigation into former Federal Reserve Chair Jerome Powell regarding the multibillion-dollar renovation of the central bank’s headquarters. Attorney General Todd Blanche confirmed the decision following a report from the Federal Reserve’s Office of Inspector General, which found no evidence of criminal wrongdoing or administrative misconduct by Powell.
However, the Inspector General’s report did identify significant management and oversight failures that contributed to the project’s costs ballooning to approximately $2.4 billion, up from an initial estimate of roughly $1.3 billion in 2020. Attorney General Blanche noted that while the oversight was inadequate, such failures do not necessarily constitute a crime. He added that the DOJ could revisit the matter if a forthcoming independent audit uncovers evidence of criminal activity.
The investigation has been a focal point of political tension. President Donald Trump has criticized the cost overruns and called for Powell to resign from his remaining position on the Federal Reserve Board of Governors, citing incompetence. Current Fed Chair Kevin Warsh has ordered an independent audit to review the renovation expenses to ensure compliance and transparency.
Entities
Department of Justice · Donald Trump · Federal Reserve · Jerome Powell · Kevin Warsh · Todd Blanche · U.S. Department of Justice
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 8 SOURCES] The Department of Justice will not reopen the criminal investigation into former Fed Chair Jerome Powell. losangelesweeklytimes.com · contilnetnoticias.com.br · www.diarioestrategia.cl · www.moncloa.com · www.spacemoney.com.br · +3 more
- [● 10 SOURCES] The renovation project experienced significant management and oversight failures. losangelesweeklytimes.com · contilnetnoticias.com.br · www.diarioestrategia.cl · www.moncloa.com · www.spacemoney.com.br · +5 more
- [● 5 SOURCES] Current Fed Chair Kevin Warsh will hire an independent auditor to review the renovation costs. losangelesweeklytimes.com · www.epochtimes.com · contilnetnoticias.com.br · www.diarioestrategia.cl · www.spacemoney.com.br
- [● 9 SOURCES] President Trump called for Jerome Powell to resign from the Federal Reserve Board of Governors. losangelesweeklytimes.com · contilnetnoticias.com.br · www.spacemoney.com.br · www.tag24.com · www.epochtimes.com · +4 more
- [● 8 SOURCES] The headquarters renovation cost approximately $2.4 billion. contilnetnoticias.com.br · www.diarioestrategia.cl · www.moncloa.com · www.spacemoney.com.br · www.alternet.org · +3 more
- [● 12 SOURCES] The Inspector General found no evidence of criminal wrongdoing by Jerome Powell regarding the headquarters renovation. losangelesweeklytimes.com · contilnetnoticias.com.br · www.diarioestrategia.cl · www.moncloa.com · www.spacemoney.com.br · +7 more