No Criminal Investigation Against Fed Chair Powell Confirmed

The Inspector General of the Federal Reserve is reviewing the extensive renovation of its Washington headquarters under Chairman Jerome H. Powell amid political scrutiny over the project’s $2.5 billion budget.

The probe may affect Powell’s leadership role, potentially impacting Federal Reserve policy, which could cause shifts in financial markets, including reactionary movements in cryptocurrency valuations.

Bitcoin Price and Crypto Analysis Amid Political Tensions

Jerome Powell meanwhile has requested an Inspector General review amid the high budget estimates of approximately $2.5 billion. According to Powell, “I have asked the Fed’s Inspector General (IG) to review the headquarters renovation project and its budget, amid criticism over costs.” The over-budget figure of $700 million has heightened scrutiny but remains without criminal charges.

The political environment remains tense, with Donald Trump criticizing Powell’s management. Powell has emphasized cost reductions, disputing claims of luxury add-ons. There is no official evidence of a criminal investigation linked to the renovation project.

Market Data and Insights

Did you know? In past incidents, such as during the Nixon administration, political pressures on Fed leadership led to concerns over monetary policy, echoing today’s situation but lacking any criminal context.

Bitcoin (BTC) remains steady at $90,709.39 despite macroeconomic concerns. Over the last 90 days, BTC has seen a decline of 21.29%, while the 24-hour trading volume surged by 40.80%. These figures highlight ongoing market volatility. Data: CoinMarketCap.

Coincu analysts suggest that while macro-political pressures persist, they may have a limited direct impact on crypto valuations, which remain closely tied to broader financial indicators and regulatory developments targeting digital assets globally.