Important Republican Senator Scott said that Powell did not commit a crime during the hearing.

Republican Senator Tim Scott of the United States said that Federal Reserve Chairman Jerome Powell did not commit a crime when answering questions at a congressional hearing last summer. "I think he made a serious judgement error. He was not prepared for that hearing. I don't think he committed a crime at the hearing," Scott said in an interview with Fox Business Channel on Wednesday. During the June hearing, Scott questioned Powell repeatedly about a $25 billion renovation project at the Federal Reserve headquarters. Subsequently, allies of US President Donald Trump accused Powell of lying in his testimony without providing evidence. Powell is currently under criminal investigation by the US Department of Justice, with the focus being on his responses during the congressional hearing. The Federal Reserve Chairman stated that the investigation is actually being driven by frustration within the government over interest rate issues.