Blanche says DOJ is not reopening criminal probe into Fed's Powell, Bloomberg News reports
- Justice Department confirms no criminal reopening for Jerome Powell
- Focus was on massive cost overruns during Fed building renovation
- DOJ keeps door cracked for potential future oversight action
- Blanche maintains ability to pivot if fresh evidence of rot appears
Brief Summary
The Department of Justice has officially slammed the door on a criminal investigation into Federal Reserve Chair Jerome Powell regarding the ballooning costs of a central bank renovation project. While Attorney General Todd Blanche signaled the criminal probe is dead for now, he pointedly left the investigative gears turning on the general oversight of the project, keeping the Fed under the microscope for potential future action.
Why This Matters
When the people managing the country's money can't manage a simple construction budget, you should pay attention. This isn't just about a building; it's about the accountability of the unelected officials who control your interest rates and the value of your savings. If the Fed can blow through budgets with zero consequences, it signals a culture of institutional rot that directly affects your purchasing power and the stability of the economy you rely on.