January 1, Legal Probe Ends as Fed Shake-Up Gains New Momentum

Wyatt’s Take

• The Justice Department dropped its criminal investigation into Federal Reserve Chairman Jerome Powell.
• The review now shifts to the Inspector General over costly renovation overruns at the central bank.
• The development removes a major obstacle for Kevin Warsh’s nomination.

The Justice Department officially dropped its criminal investigation into Federal Reserve Chairman Jerome Powell this Friday.

This move focuses on the massive cost overruns involving the central bank’s building renovations.

U.S. Attorney Jeanine Pirro announced that the Inspector General will now handle the inquiry into billions of taxpayer dollars spent.

This transition clears a major hurdle for President Trump’s nominee for the position, Kevin Warsh.

U.S. Attorney Jeanine Pirro stated on social media:

“Note well, however, that I will not hesitate to restart a criminal investigation should the facts warrant doing so.”

White House Spokesman Kush Desai emphasized the need for transparency regarding the public’s money.

“American taxpayers deserve answers about the Federal Reserve’s fiscal mismanagement, and the Office of the Inspector General’s more powerful authorities best position it to get to the bottom of the matter.”

Senate Banking Committee Chairman Tim Scott previously described Powell’s actions as incompetent rather than criminal.

The Federal Reserve has declined to comment on the matter at this time.

Wyatt Matters

Working families should not be forced to cover wasteful government spending. Accountability matters when taxpayer dollars are on the line.

Source