U.S. Justice Department says it will not reopen criminal investigation into Powell
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AT A GLANCE
The U.S. Justice Department said it would not reopen the criminal investigation into Powell, but a subsequent audit uncovering evidence of a crime could still lead to an investigation.
Article
【U.S. Justice Department says it will not reopen criminal investigation into Powell】
U.S. Attorney General Todd Blanche said that the Justice Department would not restart the criminal investigation into former Federal Reserve Chair Powell. The Federal Reserve inspector general released an investigative report this week, finding no criminal conduct by Powell regarding the cost of the Federal Reserve headquarters renovation project rising to 2400000000 USD a certain amount; Blanche said he was satisfied with the report but believed Powell had not properly supervised the project. The Federal Reserve has said it will hire an independent auditing firm to further review the renovation costs. Blanche said that if a subsequent audit finds evidence of any criminal conduct, the Justice Department may still launch an investigation.
Key points
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U.S. Attorney General Todd Blanche said that the Justice Department would not restart the criminal investigation into former Federal Reserve Chair Powell.
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An investigative report released by the Federal Reserve inspector general said it found no criminal conduct by Powell regarding the cost of the Federal Reserve headquarters renovation project rising to 2400000000 USD a certain amount.
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Blanche said he was satisfied with the report but believed Powell had not properly supervised the project.
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The Federal Reserve said it would hire an independent auditing firm to further review the renovation costs.
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Blanche said that if a subsequent audit finds evidence of criminal conduct, the Justice Department may still launch an investigation.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
The Justice Department currently says it will not reopen the relevant criminal investigation. The existing investigative report found no criminal conduct involving Powell, but there is still criticism over whether the project was properly supervised; the results of the subsequent independent audit may change the Justice Department's actions.
Why it matters to readers
The event involves the Justice Department, the Federal Reserve, and a review of the headquarters renovation costs; the results of the subsequent independent audit may affect whether the investigation is reopened.
This means there is currently no reopening of the criminal investigation, but an investigation could still take place if a subsequent audit uncovers evidence of a crime.
Risks and unknowns
The original text does not state whether the subsequent independent audit will uncover evidence of criminal conduct.
The original text does not provide the name of the independent auditing firm or the audit completion date.
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Related concepts
criminal investigation
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