Federal Reserve Chair Investigation Downplayed by White House Adviser

White House adviser Kevin Hassett minimized the federal investigation into Federal Reserve Chair Jerome Powell, asserting it to be a routine request for information. He expressed a desire for greater transparency regarding cost overruns in Federal Reserve renovations, which are under Justice Department scrutiny.

White House adviser Kevin Hassett downplayed the ongoing federal criminal investigation into Federal Reserve Chair Jerome Powell on Friday, suggesting there would likely be no substantial findings.

Hassett described the investigation as a routine request for information that should soon progress, during an interview with Fox Business Network.

He also expressed a preference for more transparency concerning the cost overruns in renovations at the Federal Reserve's headquarters, which are the focus of the Justice Department's probe.

(With inputs from agencies.)