U.S. Attorney for the District of Columbia Jeanine Pirro announced on X that the DOJ dropped its criminal probe into Federal Reserve Chairman Jerome Powell.
Pirro wrote:
This morning the Inspector General for the Federal Reserve has been asked to scrutinize the building costs overruns – in the billions of dollars – that have been borne by taxpayers.The IG has the authority to hold the Federal Reserve accountable to American taxpayers. I expect a comprehensive report in short order and am confident the outcome will assist in resolving, once and for all, the questions that led this office to issue subpoenas.Accordingly, I have directed my office to close our investigation as the IG undertakes this inquiry. Note well, however, that I will not hesitate to restart a criminal investigation should the facts warrant doing so.
In January, federal prosecutors opened an investigation into Powell over his plans to spend $2.5 billion on renovations to the Federal Reserve’s headquarters in DC.
President Donald Trump has been eager to replace Powell.
Trump and his allies allege mismanagement and misleading testimony before Congress.
Powell has denied accusations, accusing Trump of retaliation over monetary policies.
“This unprecedented action should be seen in the broader context of the administration’s threats and ongoing pressure,” Powell said in a video in response to the investigation. “This new threat is not about my testimony last June or about the renovation of the Federal Reserve buildings.”
The ever-wonderful Judge James Boasberg, who has one of the worst cases of Trump Derangement Syndrome, has hindered Pirro’s investigation.
Earlier this month, Boasberg maintained his position that the DOJ didn’t meet “the low bar to seek a subpoena to the Fed.”
Boasberg claimed that he saw “abundant evidence” that the administration has used the investigation to force Powell to lower interest rates or resign.
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