DOJ Closes Investigation into Jerome Powell Over Fed HQ Renovation Costs

The Department of Justice (DOJ) has closed its investigation into former Federal Reserve Chair Jerome Powell over alleged cost overruns in the agency's headquarters renovation project.

The investigation, which was announced in January, sought to determine whether Powell misled the public about the project's scope and costs.

Although the DOJ is not reopening the case, Attorney General Todd Blanche left the door open for future investigations if any new evidence comes to light.

The renovation project, which includes modernizing the historic Marriner S. Eccles Building and another structure on Constitution Avenue in Washington, D.C., is scheduled to be completed in 2027.