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US Justice Department Seeks to Vacate Ruling Blocking Grand Jury Subpoenas in Probe into Federal Reserve HQ Renovation Cost Overruns
The US Department of Justice has asked a federal judge to vacate a ruling that barred the use of grand jury subpoenas in an investigation into cost overruns related to the renovati...
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The US Department of Justice has asked a federal judge to vacate a ruling that barred the use of grand jury subpoenas in an investigation into cost overruns related to the renovation of the Federal Reserve headquarters. Prosecutor Jeanine Pirro terminated the investigation last month, with the review now being conducted by the Federal Reserves Office of Inspector General. However, she did not rule out the possibility of reopening the probe if the Inspector General uncovers potential criminal misconduct.

In a court filing, she stated that since the investigation into the case and testimony given by Federal Reserve Chair Jerome Powell has been terminated, the ruling is no longer necessary. The filing also noted that if a new grand jury investigation is initiated, any subpoenas issued would be based on a different record, which may incorporate information generated from the Inspector Generals analysis.

Related NewsNon Farm Payrolls for Apr in the United States is 115K, lower than the previous value of 185K. The forecast was 62K.
After Pirro previously ended the investigation, North Carolina Republican Senator Thom Tillis voiced support for Kevin Warshs nomination as the next Federal Reserve Chair. (fc/j)

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