Justice Department closes probe into Jerome Powell renovation costs
The Justice Department has closed its investigation into Federal Reserve Chair Jerome Powell over pricey renovations at the Federal Reserve's Washington headquarters.
This move, announced by US Attorney Jeanine Pirro, comes just as the Federal Reserve's inspector general gears up for another review on how those costs ballooned, raising eyebrows about billions in taxpayer money.
Powell requested IG revisit in 2025
Even though two earlier audits found no wrongdoing, the inspector general was asked to revisit the matter in 2025 after Powell himself requested it, following pressure from President Trump and his supporters.
Pirro noted that while the Justice Department is done for now, it might reopen the case if anything new turns up.
The outcome could also impact whether Kevin Warsh gets confirmed as the next Federal Reserve chair by the Senate.