DOJ Rejects Trump's Bid to Prosecute Jerome Powell Over Central Bank Renovation Costs
Donald Trump's bid to prosecute Jerome Powell has been dealt a significant blow as the US Department of Justice (DOJ) refuses to reopen its investigation into the former Federal Reserve Chair over cost overruns tied to the central bank's headquarters renovation.
The DOJ spokesperson confirmed the decision on Friday, citing a lack of new evidence of wrongdoing. However, Attorney General Todd Blanche hinted that if new information surfaces, the department may reconsider its stance.
The move follows an investigation by the Fed's inspector general, which concluded that there were no grounds for a criminal referral and no evidence of administrative misconduct tied to the overruns.
Despite this finding, Trump has continued to criticize Powell, calling for his resignation. Powell stepped down as Fed chair in May but remains on the board as a governor.