DOJ Rejects Reopening Probe into Jerome Powell Over Fed Renovation Costs

President Trump's long-running effort to see Jerome Powell prosecuted has hit another roadblock. The Justice Department has declined to reopen its investigation into the former Federal Reserve Chair over cost overruns tied to the central bank's headquarters renovation.

The decision comes after a watchdog report concluded that there were no grounds for a criminal referral and no evidence of administrative misconduct tied to the overruns. However, the report did find that oversight of the project had been lax.

Attorney General Todd Blanche told Bloomberg News that he isn't entirely closing the door on further scrutiny if new evidence of wrongdoing surfaces.

Powell stepped down as Fed chair in May but has remained on the board as a governor. His successor, Kevin Warsh, announced that an independent auditor would be brought in to verify the accuracy and compliance of all project-related costs.