By Maribel Velazquez
He Department of Justice (DOJ) decided to close the criminal investigation against the Federal Reserve (FED) and its president, Jerome Powellrelated to alleged cost overruns in a renovation project at its headquarters in Washington.
The United States Attorney for the District of Columbia, Jeanine Pirroexplained that the decision responds to the fact that the previous Identical Inspector of the Federal Reserve will resume the review of the project. “I have ordered my office to close our investigation while the previous Identical Inspector carries out this investigation,” he said in a post on X.
However, he left open the possibility of reactivating the case: “I will not hesitate to restart a criminal investigation if the facts justify it.”
This morning the previous Inspector Identical for the Federal Reserve has been asked to survey the building costs overruns – within the billions of bucks – which were borne by taxpayers.
The IG has the authority to keep the Federal Reserve accountable to American taxpayers. YO…
— US Attorney Pirro (@USAttyPirro) April 24, 2026
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