DOJ drops probe against Jerome Powell over Fed renovation cost overruns

The Department of Justice has dropped their probe of Federal Reserve Chair Jerome Powell over an investigation into him with respect to cost overruns for a renovation project of the Fed's headquarters in Washington, DC.

"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," US Attorney for DC Jeanine Pirro said in a post to X.

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