Fed Probe Shifts to IG, Powell Successor Clears Path

0:00On April 25th, Justice Department just dropped its probe into Federal Reserve Chair, Jerome Powell, over those massive renovation costs at the Central. Bank, BeholdUp, White House Press Secretary Caroline Levitt says the investigation ain't over. It's shifting to the Fed's Inspector General. Leave it explained it's now under a different authority, with better tools to dig into the financial mismanagement. Meanwhile, U.S. attorney for the District of Columbia, Jeanine Piro, confirmed her office is wrapping up, handing it off to the IG to scrutinize the $1 billion overruns paid by taxpayers. Piro posted on X that she expects a four-report soon and won't hesitate to restart a criminal investigation if the facts demanded. On the hill, Senator Tom Tillis from North Carolina had been blocking any Fed nominees until this probe ended. That stance clears the path now for nominating Kevin Worsh to replace Powell. With the IG taking the reins, we'll see if those taxpayer questions get real answer soon.

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