President Trump and Federal Reserve Chair Jerome Powell tour the Federal Reserve’s $2.5 billion headquarters renovation challenge on July 24, 2025.
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The U.S. Justice Division is dropping its investigation of Fed Chair Jerome Powell, paving the best way for the Senate to substantiate Kevin Warsh, the president’s nominee to move the central financial institution.
“This morning the Inspector Normal for the Federal Reserve has been requested to scrutinize the constructing prices overruns – within the billions of {dollars} – which were borne by taxpayers,” U.S. Legal professional for D.C. Jeanine Pirro mentioned in a publish on X. “Accordingly, I’ve directed my workplace to shut our investigation because the IG undertakes this inquiry.”
At concern is a renovation challenge on the Fed’s Washington headquarters. The Fed’s inspector common has reviewed the development challenge twice. It discovered no wrongdoing.
The transfer paves the best way for the Senate to substantiate Warsh, Trump’s nominee to move the Fed. Sen. Thom Tillis, R-N.C., had threatened to dam the nomination until the Justice Division dropped the investigation into Powell.
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