US Justice Department Said to End Powell Probe Soon, ABC Reports

Uk Jin

Summary

ABC reported that the US Justice Department is preparing to end its investigation into Federal Reserve Chair Jerome Powell.
The report said senior Justice Department officials had told people including Republican Senator Thom Tillis that the investigation would be dropped.
Powell's term is set to expire next month, though it could be extended because the Senate has yet to complete confirmation of Kevin Warsh, the nominee to succeed him.

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*Fed Chair Powell / Photo: Federal Reserve website*

The US Justice Department is preparing to end its investigation into Federal Reserve Chair Jerome Powell, ABC News reported.

ABC said on April 24, citing multiple sources, that the department could close the probe as early as that day. Powell has been under investigation over allegations related to the cost of renovating the Fed's Washington headquarters.

Senior Justice Department officials recently told people including Republican Senator Thom Tillis that the investigation would be dropped, the report said.

Powell's term is set to expire next month. However, it could be extended for a period because the Senate has yet to complete confirmation of Kevin Warsh, the nominee to succeed him.