Jay Powell

The US Department of Justice has declined to reopen an investigation into Jay Powell, the former chair of the Federal Reserve. The decision means the prior inquiry into the longtime central bank chief will not be revived. The reasons for the refusal and the original focus of the investigation have not been detailed in the available reporting, and reaction from Powell or the Fed has not yet been recorded.

The US Department of Justice has declined to reopen an investigation into Jay Powell, the former chair of the Federal Reserve. The decision closes the door on renewed scrutiny of the former central bank chief. Observers are watching closely given the political sensitivities surrounding the Fed and its relationship with the Trump administration.