DOJ Drops Criminal Probe Of Powell Into Fed Building Costs

DOJ Drops Criminal Probe Of Powell Into Fed Building Costs

The Department of Justice is dropping its criminal investigation into Federal Reserve Chair Jerome Powell, ending a standoff that threatened to delay the confirmation of Powell’s successor at the central bank

In a post on X, US Attorney General for DC Jeanine Pirro said she is directing her office to close its investigation of Federal Reserve Chair Jerome Powell as the inspector general for the agency has been asked to scrutinize its building construction project costs,

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.

The IG has the authority to hold the Federal Reserve accountable to American taxpayers. I…

— US Attorney Pirro (@USAttyPirro) April 24, 2026

According to ABC, senior DOJ officials had contacted senators in recent days, including Republican Sen. Thom Tillis. who sits on the Senate Banking Committee, informing them of the plan to drop the probe and refer the matter regarding alleged cost overruns at the Fed’s Washington headquarters to the bank’s internal watchdog, the sources said.

The Fed’s independent inspector general conducted an audit of the building renovation costs in 2021 and Powell had already asked the watchdog to take a fresh look at the $2.5 billion project last year.

Powell’s term ends next month, but he said in March that he would stay in the position until President Donald Trump’s pick to lead the Fed, Kevin Warsh, is confirmed. Which is also the reason why the DOJ decided to drop its case as the last thing Trump needed was more confusion over when Warsh would take over.

A spokesperson for the Federal Reserve declined to comment. Reached by ABC News, a spokesperson for Tillis declined to comment.

A Justice Department spokesperson did not immediately respond to a request for comment from ABC News.

Tyler Durden
Fri, 04/24/2026 – 10:19

https://www.zerohedge.com/markets/doj-drops-criminal-probe-powell-fed-building-costs

DOJ Drops Criminal Probe Of Powell Into Fed Building Costs <body> <h1> Array ( [0] => soj drops criminal probe of powell into fed building costs [1] => xoj drops criminal probe of powell into fed building costs [2] => coj drops criminal probe of powell into fed building costs [3] => foj drops criminal probe of powell into fed building costs [4] => roj drops criminal probe of powell into fed building costs [5] => eoj drops criminal probe of powell into fed building costs [6] => dij drops criminal probe of powell into fed building costs [7] => dkj drops criminal probe of powell into fed building costs [8] => dlj drops criminal probe of powell into fed building costs [9] => dpj drops criminal probe of powell into fed building costs [10] => d0j drops criminal probe of powell into fed building costs [11] => d9j drops criminal probe of powell into fed building costs [12] => doh drops criminal probe of powell into fed building costs [13] => don drops criminal probe of powell into fed building 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