The U.S. Justice Department has confirmed it will not reopen a criminal probe into a former Federal Reserve chair over allegations of excessive spending tied to a major renovation of the central bank’s headquarters. While the investigation into potential wrongdoing has been closed, officials have left open the possibility of further scrutiny if new evidence emerges regarding oversight failures. The decision follows earlier scrutiny of the project, which had drawn attention for its cost overruns. Authorities have not ruled out future action if misconduct is substantiated.
Kevin Warsh’s predecessor had been investigated over cost overruns related to central bank renovation projectThe US justice department is not reopening a criminal investigation into former Federal Reserve chair Jerome Powell for cost overruns related to the central bank’s building renovation project, a department spokesperson said on Friday.Attorney general Todd Blanche – in comments to Bloomberg News, which first reported the development – said he has not ruled out continuing to look into the project’s oversight and potentially take action if evidence of wrongdoing came to light. Continue reading...
