"The investigation into the Federal Reserve's $2.5 billion headquarters renovation was seen as a pressure tactic aimed at influencing Jerome Powell to lower interest rates."
"Senator Thom Tillis expressed his opposition to Kevin Warsh's confirmation until the Justice Department's inquiry into Powell was concluded, effectively delaying the nomination process."
The Justice Department has concluded its investigation into Federal Reserve Chairman Jerome Powell, which was a significant barrier to the Senate confirmation of Kevin Warsh as Powell's successor. U.S. Attorney Jeanine Pirro announced that her office would cease the probe into the Fed's $2.5 billion headquarters renovation, as the central bank's inspector general will take over the review. This investigation was perceived as a tactic to pressure Powell into reducing U.S. interest rates, and Senator Thom Tillis had indicated he would oppose Warsh's confirmation until the inquiry was resolved.
Read at The American Conservative
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