Summary
The U.S. Justice Department ended its criminal investigation into Federal Reserve Chair Jerome Powell regarding renovations at the Federal Reserve. This decision may help Kevin Warsh, a former Fed board member, to be confirmed for a new role.Key Facts
- The Justice Department investigated Jerome Powell about Federal Reserve building renovations.
- The investigation was criminal in nature but has now been dropped.
- Jeanine Pirro, U.S. attorney for the District of Columbia, announced the decision.
- Jerome Powell is the current Chair of the Federal Reserve.
- Kevin Warsh, a former Federal Reserve board member, has been nominated for a position.
- Dropping the probe may help Kevin Warsh’s confirmation process.
- The Federal Reserve is America's central bank, responsible for managing money and interest rates.
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