POLITICS

DOJ Closes Probe, IG To Review Fed Renovation Costs

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Washington: On April 24, U.S. Attorney Jeanine Pirro announced that the Justice Department will close its criminal investigation into Federal Reserve Chair Jerome Powell regarding costly renovations at the Fed’s Washington headquarters and instead asked the Fed’s Office of Inspector General to examine alleged cost overruns. The announcement on Friday removes an immediate legal impediment to the Senate confirmation of President Trump’s nominee Kevin Warsh and follows subpoena actions earlier this year that were blocked by a federal judge; Pirro said she may reopen a criminal probe if the IG’s findings or new evidence warrant further action.

Prepared by Lauren Mitchell and reviewed by editorial team.

Timeline of Events

January: DOJ issues subpoenas to Fed Chair Jerome Powell about HQ renovations.
Late March: A federal judge blocks the DOJ subpoenas.
24 April: U.S. Attorney Jeanine Pirro announces DOJ will close the criminal probe.
24 April: Pirro refers renovation cost oversight to the Fed’s Inspector General.
Late April–May: Move likely clears a procedural path for Kevin Warsh’s confirmation vote.

Why This Matters to You

This case affects your money. The Federal Reserve's budget comes from your tax dollars. If there were cost overruns, that's your money not being used efficiently. Keep an eye on the Inspector General's findings.

The Bottom Line

The DOJ's decision to close the probe clears a path for Kevin Warsh's Senate confirmation. But, the investigation may reopen if new evidence surfaces. Worth forwarding if you know someone interested in where their tax dollars go.