Fed Probe Dropped, Clearing Path for New Chair

On April 24th, the Justice Department just dropped its criminal probe into Federal Reserve

Chair Jerome Powell over those huge building renovation.

Overruns.

This clears a major hurdle for Kevin Worsh's confirmation as the next chair.

U.S. Attorney Jeanine Piro announced her office is handing the matter to the Fed's Inspector

General.

That watchdog now has the job of scrutinizing the billion-dollar cost taxpayers footed,

with a full report expected soon.

The investigation dragged on for months, but never really gained steam.

Prosecutors admitted in court they had zero evidence of any crime, and a judge quashed

their subpoenas, slamming the case as thin and baseless.

Tensions peaked when investigators showed up unannounced at the Fed Headquarters construction

site, but got turned away.

Defense lawyers called that move out of line, highlighting how shaky things were all along.

With the probe closed for now, though Piro says it could reopen if needed, this hands

accountability back to the Fed's own oversight, smoothing the, path ahead for new leadership

at the Central Bank.

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This is U.S. News Today.

I'm Corey with The Story.