U.S. Attorney General Announces No Reopening of Criminal Investigation into Powell

U.S. Attorney General Todd Blanche stated that the Department of Justice will not reopen a criminal investigation into former Federal Reserve Chairman Powell regarding cost overruns on the renovation project of the Federal Reserve building. The Federal Reserve's Inspector General reported this week that no criminal evidence related to Powell and the renovation project was found. Blanche acknowledged the report but believed that Powell's oversight of the project was inadequate and did not rule out continuing to monitor oversight issues. If subsequent independent audits uncover criminal evidence, the Department of Justice may still initiate an investigation.

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