[‘Chief Prosecutor’ in Powell Case May Have Been Replaced] BlockBeats News, March 12, according to Bloomberg, Tim Scott, the Republican leader of the U.S. Senate Banking Committee, stated that the ‘chief prosecutor’ responsible for the Department of Justice’s criminal investigation into Federal Reserve Chairman Powell has been replaced. ‘I believe the chief prosecutor has been replaced, and I think that’s a fact.’ Powell previously stated that the Department of Justice issued a subpoena to the Federal Reserve in January, threatening to file criminal charges. These subpoenas are related to the Federal Reserve’s ongoing $2.5 billion renovation project for its Washington headquarters and Powell’s testimony on the project before the Senate Banking Committee last year. In a video response with unusually strong language, Powell described the investigation’s motive as stemming from the Federal Reserve’s refusal to set interest rates according to President Trump’s wishes. Earlier today, it was reported that Walsh’s nomination as Federal Reserve Chairman was blocked, with Republican senators demanding the completion of the investigation into Powell first.