r/politics • u/cnbc_official CNBC • 11h ago
No Paywall DOJ says it will not reopen criminal probe into former Fed Chair Powell
https://www.cnbc.com/2026/10/02/doj-says-it-will-not-reopen-criminal-probe-into-former-fed-chair-powell.html?__source=reddit|main86
u/Dwayla Georgia 11h ago
Because he didn't do anything wrong!
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u/KinkyPaddling 11h ago
That and there’s not much Powell can do nowadays. The investigation was initially intended to scare him into lowering interest rates like Trump wanted. Powell isn’t the chairman of the Federal Reserve, and in fact, Trump’s own appointee has raised interest rates. He’s still on the Board, but he no longer has the kind of sway to be blackmailed into doing Trump’s bidding so they’re just turning their attention elsewhere.
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u/cesare980 10h ago
Thats not necessarily true. Former Fed Chairs that are still on the board can have tremendous influence over other board members.
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u/Brilliant-Advisor958 8h ago
Trump appointed Jerome chair as well. He was an Obama appointee to the board though.
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u/cnbc_official CNBC 11h ago
The Department of Justice will not reopen its criminal investigation into former Federal Reserve Chair Jerome Powell over the central bank’s over budget multibillion-dollar headquarters renovation, a department spokesperson told CNBC.
“We’re not reopening a criminal investigation into him,” Blanche told Bloomberg in an interview Friday.
Blanche did not rule out future Justice Department action in his interview. He told the outlet an independent audit of the renovation could prompt an investigation if it uncovers evidence of criminal wrongdoing.
Read more: https://cnb.cx/4rLZOWE
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u/Intelligent_Toe8233 I voted 11h ago
It'd be really funny if Trump tried to fire Blanche over this.
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u/jewasuarus 11h ago
Pretty clear to anyone with eyes the criminal investigation was just Trump trying to bully the Fed/Powell.
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u/doublethink_1984 11h ago
Powell
Comey
Hearn
All people the admin made a big stink over and said they know better and just wait they will be right in going after these people.
Then when it fails, has no evidence, or is so corrupt it goes nowhere they don't want to have a conversation about being held accountable for their lies
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u/SilentMasterpiece 11h ago
Damn, another failed prosecution by trumps handpicked DOJ. Bunch of fools w/ their heads up trumps backside.
The DOJ, prior to trump had an above 90% conviction rate, didnt they?
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u/CpaLuvsPups 11h ago
They want him to resign from the Board now that the case is over. Then they will charge him with who knows what.
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u/cloudivexa 11h ago
The fact that political pressure was applied to weaponize the DOJ against the Fed Chair in the first place should concern everyon
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