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lol

#DOJ drops criminal probe of #FederalReserve chair #JeromePowell

#USAttorney for DC #JeanninePirro said Friday that her office was ending its probe into the Fed’s building renovations because the Fed’s IG would scrutinize them instead.

The decision ends an investigation, one of several into #Trump’s perceived adversaries, that for months had failed to gain traction as prosecutors struggled to articulate a basis to suspect #criminal conduct.

#law
https://apnews.com/article/federal-reserve-investigation-powell-justice-department-28d04cc0d99cda25cea69931f65e25d3

AP News

Justice Department drops criminal probe of Fed chair Powell, likely clearing way for Warsh

The Justice Department has ended its probe into Federal Reserve chair Jerome Powell, clearing a major roadblock to the confirmation of his successor, Kevin Warsh. U.S.

Barbara Monaco

@Barbramon1@mas.to replied · 6 hours ago

@Nonilex Wondering how much taxpayer money was squandered on this legal fool's errand. Powell's term ends in May.
Hoping that Powell will stay on as one of the governors, as is his right.
Important to remember that, even if trump toady Warsh becomes the Fed Chairman, he can't single handedly lower interest rates. He has one vote out of 12 in the Federal Open Market Committee.
Hoping that reason will prevail.

PetterOfCats

@PetterOfCats@mastodon.world replied · 8 hours ago

@Nonilex hey how’re those unauthorized renovations to the East Wing (ballroom) coming along? Strange DOJ isn’t looking into that…

Nonilex

@Nonilex@masto.ai replied · 8 hours ago

A prosecutor handling the case conceded at a closed-door court hearing in March that the government hadn’t yet found any evidence of a #crime, & a judge subsequently quashed subpoenas issued to the #FederalReserve. The judge, James #Boasberg, said prosecutors had produced “essentially zero evidence” to suspect Powell of a crime. Boasberg said prosecutors’ justification for the subpoenas as “thin & unsubstantiated.”

#law #Trump #RevengePolitics

Nonilex

@Nonilex@masto.ai replied · 8 hours ago

…The move could lead to a swift confirmation vote by the #Senate for #KevinWarsh, a former top #Fed official whom #Trump, a Republican, nominated in January to replace #JeromePowell, whose term as chair ends May 15. Sen Thom Tillis, a North Carolina Republican, has said he would oppose Warsh until the investigation was resolved, effectively blocking his confirmation.

#law #FederalReserve #economy #RevengePolitics

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