"The IG has the authority to hold the Federal Reserve accountable to American taxpayers. I expect a comprehensive report in short order and am confident the outcome will assist in resolving, once and for all, the questions that led this office to issue subpoenas."
"A federal judge last month blocked subpoenas to the Fed's board of governors, finding they were issued for the improper purpose of pressuring Powell to cave to U.S. President Donald Trump's demands to rapidly lower interest rates or resign."
"North Carolina Sen. Thom Tillis, a Republican member of the Senate's banking committee, has said he regarded the probe as a frivolous assault on the Fed's independence and would block Warsh's confirmation until it is dismissed."
The Justice Department has decided to close its investigation into cost overruns related to renovations at the Federal Reserve. U.S. Attorney Jeanine Pirro announced that the Inspector General will now examine the building costs. Pirro expressed confidence in the IG's ability to hold the Federal Reserve accountable. A federal judge previously blocked subpoenas aimed at the Fed's board, citing improper motives. The investigation has affected Jerome Powell's position, with political pressures surrounding his leadership and potential successors.
Read at www.cbc.ca
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