The US justice department is dropping its investigation into the Federal Reserve chairman, Jerome Powell, over alleged building cost overruns. US Attorney Jeanine Pirro stated instead there would be an internal investigation led by the central bank's inspector general.
President Donald Trump has repeatedly accused Powell of allowing renovation costs to spiral too high, adding to their ongoing feud. As Powell's term nears its end, the Senate is evaluating Trump's nominee for his replacement, Kevin Warsh, with key Republican Thom Tillis withholding support for Warsh unless the investigation into Powell concludes.
American taxpayers deserve answers about the Federal Reserve's fiscal mismanagement, and the Inspector General's office has the authority to investigate fully, said White House spokesperson Kush Desai.
President Trump has previously floated the idea of replacing Powell if he doesn't step aside soon, as his term is set to expire on May 15. Powell, appointed by Trump in 2017, stated that he believed the investigation stemmed from the president's frustration over the Fed's independent monetary policy decisions.
The renovations in question are significant as they update buildings that haven’t seen major work since the 1930s, focusing on critical updates including asbestos removal.
President Donald Trump has repeatedly accused Powell of allowing renovation costs to spiral too high, adding to their ongoing feud. As Powell's term nears its end, the Senate is evaluating Trump's nominee for his replacement, Kevin Warsh, with key Republican Thom Tillis withholding support for Warsh unless the investigation into Powell concludes.
American taxpayers deserve answers about the Federal Reserve's fiscal mismanagement, and the Inspector General's office has the authority to investigate fully, said White House spokesperson Kush Desai.
President Trump has previously floated the idea of replacing Powell if he doesn't step aside soon, as his term is set to expire on May 15. Powell, appointed by Trump in 2017, stated that he believed the investigation stemmed from the president's frustration over the Fed's independent monetary policy decisions.
The renovations in question are significant as they update buildings that haven’t seen major work since the 1930s, focusing on critical updates including asbestos removal.
