DOJ: No criminal evidence found against Powell in Fed HQ renovations

During a March 3 hearing, a federal prosecutor told Judge Boasberg there’s no evidence of fraud or criminal misconduct by Fed Chair Jerome Powell in the $2.5 billion Federal Reserve headquarters renovations, even as subpoenas were issued and then quashed amid questions about the case. The DOJ probe began in January amid Trump’s criticisms and concerns over Fed independence; Powell’s term ends in May, with former Fed Governor Kevin Warsh nominated to take his place, though some lawmakers want the probe resolved before confirming him. The Washington Post first reported the court remarks.