The U.S. Department of Justice has decided to terminate its investigation into Federal Reserve Chair Jerome Powell, shifting the matter to an internal review by the Federal Reserve Inspector General regarding the costs of renovating the headquarters. Previously, the investigation was viewed as a key obstacle to President Trump’s nomination of Kevin Warsh to succeed Powell as Federal Reserve Chair; Republican Senator Tillis previously blocked the confirmation process citing this as the reason. The White House said the move will help speed up the appointment process, and stressed that it will continue to pursue issues related to the Federal Reserve’s financial management. (CNBC)

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