US Justice Department Won't Reopen Powell Renovation Probe
The US Justice Department said Friday it will not reopen a probe. The probe was into former Federal Reserve chair Jerome Powell.
It looked at cost overruns on the central bank's $2.5 billion building renovation. A Federal Reserve inspector general's report came before the decision.
It found no grounds for a criminal referral over the mismanaged renovation. US Attorney General Todd Blanche spoke about the project's oversight. He said not having "any oversight" isn't necessarily a crime.
Klear Note — A criminal referral asks prosecutors to consider whether evidence supports criminal charges.
Key Terms 3
- inspector general An official who checks an organization for waste, mistakes or wrongdoing.
- criminal referral A formal request for prosecutors to look at a possible crime.
- cost overruns When a project ends up costing more money than planned.