Trump DOJ drops probe of Federal Reserve’s Jerome Powell

The Justice Department has closed its criminal investigation into Federal Reserve Chair Jerome Powell over the renovation of the agency’s headquarters, a probe that risked delaying President Donald Trump’s efforts to push Powell out of his role.

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U.S. Attorney for the District of Columbia Jeanine Pirro, a close Trump ally, said in a statement on social media Friday that the inspector general for the Federal Reserve is instead conducting an inquiry into the building’s renovation costs.

“The IG has the authority to hold the Federal Reserve accountable to American taxpayers,” Pirro said, adding that she expects a report on the inquiry soon.

“Accordingly, I have directed my office to close our investigation as the IG undertakes this inquiry,” Pirro added. “Note well, however, that I will not hesitate to restart a criminal investigation should the facts warrant doing so.”