DoJ drops criminal investigation into Federal Reserve and Jerome Powell

The Justice Department has closed its criminal investigation into Jerome Powell and the Federal Reserve regarding costly renovations at its Washington headquarters. U.S. Attorney Jeanine Pirro stated that the Inspector General will examine the significant cost overruns, potentially in the billions.

Pirro mentioned she could reopen the investigation if necessary. The Inspector General has previously reviewed the project without finding any wrongdoing.

This decision allows Trump's nominee, Kevin Warsh, to move forward with his Senate confirmation vote. Warsh's confirmation was previously stalled by Senator Thom Tillis, who labeled the investigation as "bogus."

The Federal Reserve has not commented on the matter.