Justice Dept. drops investigation into Federal Reserve and Jerome Powell

The Justice Department on Friday dropped a criminal investigation into the Federal Reserve and its leader, Chair Jerome Powell, regarding a renovation project at the central bank's Washington headquarters. "This morning the Inspector General for the Federal Reserve has been asked to scrutinize the building costs overruns – in the billions of dollars – that have been borne by taxpayers," said U.S. Attorney for D.C. Jeanine Pirro in a post on X. "Accordingly, I have directed my office to close our investigation as the IG undertakes this inquiry."