DOJ Closes Investigation into Former Fed Chair Jerome Powell

The US Justice Department has closed its investigation into former Federal Reserve Chair Jerome Powell over cost overruns related to the central bank's building renovation project.

According to a DOJ spokesperson, there will be no reopening of the criminal probe, despite a previous statement from Attorney General Todd Blanche that he had not ruled out continuing to look into the project's oversight and potentially taking action if evidence of wrongdoing came to light.

The Fed's Inspector General on Wednesday said it found no grounds for a criminal referral or evidence of administrative misconduct tied to the project cost overruns, but its conclusion there was lax oversight drew a fresh call from President Donald Trump for Powell's resignation.