Fed Probe Shifts to IG, Powell Successor Clears Path

On 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.

That's your update from U.S. News Today, powered by AI.