"This morning the Inspector General for the Federal Reserve has been asked to scrutinize the building costs overruns in the billions of dollars that have been borne by taxpayers."
"Accordingly, I have directed my office to close our investigation as the IG undertakes this inquiry."
"The Fed's inspector general has reviewed the construction project twice. It found no wrongdoing."
"Sen. Thom Tillis, R-N.C., had threatened to block the nomination unless the Justice Department dropped the investigation into Powell."
The U.S. Justice Department has decided to close its investigation into Fed Chair Jerome Powell, facilitating the Senate's confirmation of Kevin Warsh as the new head of the central bank. The investigation was related to a renovation project at the Federal Reserve's Washington headquarters, which had been scrutinized by the Fed's inspector general. The inspector general found no wrongdoing in the construction project. Senator Thom Tillis had indicated he would block Warsh's nomination unless the investigation was dropped.
Read at www.npr.org
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