Jerome Powell Under Scrutiny for Federal Reserve Headquarters Renovation Expenses

Jerome Powell Under Investigation Over Federal Reserve Headquarters Renovation

According to The New York Times, U.S. prosecutors are currently investigating Federal Reserve Chair Jerome Powell in connection with the refurbishment of the central bank’s headquarters in Washington, D.C. The U.S. attorney’s office for the District of Columbia has reportedly launched this inquiry, as confirmed by officials familiar with the situation.

Focus of the Investigation

The probe is examining whether Powell may have provided misleading information to Congress regarding the true extent and financial requirements of the renovation project. Prosecutors are said to be reviewing both Powell’s public remarks and the Federal Reserve’s official records to assess the accuracy of his statements.