Federal Reserve Chair Investigation: A Storm in a Teacup?

Kevin Hassett, a White House adviser, minimized the significance of a federal investigation into Federal Reserve Chair Jerome Powell. He described the probe as a straightforward request for information. Hassett expressed a desire for increased transparency regarding cost overruns at the Fed headquarters, the investigation's focus.

White House adviser Kevin Hassett on Friday attempted to downplay the federal investigation targeting Federal Reserve Chair Jerome Powell. In an interview with CNBC, Hassett suggested that the probe was merely a routine request for information and anticipated no major revelations.

The investigation centers around cost overruns linked to renovations at the Federal Reserve's headquarters, a matter the Justice Department is scrutinizing closely. Hassett expressed a desire for greater transparency in dealing with these overruns, emphasizing that doing so would have been beneficial.

Despite the ongoing inquiry, Hassett assured that the process should move forward quickly and without significant delay, underlining his confidence that nothing substantial would emerge from the investigation.

(With inputs from agencies.)