US justice department will not reopen criminal probe of Fed’s Jay Powell
US attorney-general Todd Blanche says not having ‘any oversight’ of the central bank’s $2.5bn renovation project ‘isn’t necessarily a crime’
Source: Financial Times
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DW NOTE
The Fed spent $2.5 billion renovating its headquarters with no external oversight, and the attorney-general's position is that absence of oversight "isn't necessarily a crime." That's technically correct. It's also a perfect distillation of why central banks operate as unaccountable parallel governments — they tax via inflation, spend without appropriation, and answer to no one until the bill is already paid.