Prosecutor conceded lack of criminal evidence in Federal Reserve investigation, transcript shows
A DOJ prosecutor acknowledged no evidence of wrongdoing by Powell in the $2.5 billion Fed renovation probe, leading to quashed subpoenas and judicial criticism of the investigation.
- On Tuesday, a transcript revealed Assistant U.S. Attorney Andrew Massucco admitted in a closed-door hearing that the Justice Department lacks evidence of criminal misconduct by Federal Reserve Chair Jerome Powell regarding a $2.5 billion renovation.
- President Donald Trump launched the investigation following months of criticism over the Federal Reserve's $2.5 billion headquarters overhaul and Powell's refusal to lower interest rates, fueling fears of political interference in monetary policy.
- Chief Judge James Boasberg recently quashed government subpoenas, writing that prosecutors produced "essentially zero evidence" to suspect Powell of a crime and describing their justifications as "thin and unsubstantiated."
- The criminal probe has delayed Senate consideration of Kevin Warsh, President Trump's nominee to replace Powell, with Republican Sen. Thom Tillis insisting the banking committee withhold any confirmation vote until the investigation is resolved.
- While prosecutors argued the $1.2 billion cost overrun justified their scrutiny, critics labeled the probe "Another Trump Team retribution bungle," undercutting claims of criminality in the Fed's project.
101 Articles
101 Articles
KTVU FOX 2
Prosecutor tells judge there's a lack of evidence in Fed Chair Powell inquiry on costly Fed renovations
A federal prosecutor admitted in court that the government lacks evidence of wrongdoing by Federal Reserve Chair Jerome Powell in its investigation of his testimony before a Senate committee last year, a new report states.
Pirro deputy admits feds couldn’t find criminal evidence against Powell
An assistant U.S. Attorney acknowledged to a federal judge earlier this month that the Justice Department had no criminal evidence against Federal Reserve Chair Jerome Powell. Andrew Massucco, a deputy to U.S. Attorney for the District of Columbia Jeanine Pirro, made the admission to Judge James Boasberg on March 3, according to a sealed transcript…
Prosecutor Admits No Evidence In Case Against Fed Chair Powell: Report
A federal prosecutor told a judge there was no evidence of criminal wrongdoing by Jerome Powell in the costly renovation of the Federal Reserve’s headquarters, according to a court transcript reported by CNN. The Justice Department had launched a probe earlier this year following criticism from President Donald Trump over a $2.5 billion renovation project that ran significantly over budget. Prosecutors acknowledged they lacked evidence of fraud …
A U.S. Attorney in Washington said this month before a judge that his office had no evidence of any crime committed by Federal Reserve President Jerome Powell in the costly renovation of the bank's headquarters...
Spectrum Local News
Prosecutor conceded lack of criminal evidence in Fed probe, transcript shows
During a closed-door hearing on March 3, Assistant U.S. Attorney Andrew Massucco couldn't point to any evidence of fraud or criminal misconduct.
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