Justice Department Ends Investigation into Fed Chair Powell

The US Department of Justice has announced that it will not reopen its investigation into former Federal Reserve Chair Jerome Powell regarding cost overruns on the central bank's building renovation project.

A DOJ spokesperson said Attorney General Todd Blanche has not ruled out continuing to look into the project's oversight and potentially taking action if evidence of wrongdoing comes to light.

The Fed's Inspector General found no grounds for a criminal referral or evidence of administrative misconduct, but concluded there was lax oversight. President Donald Trump responded by calling for Powell's resignation.

Powell has remained at the Fed as a governor since stepping down as chair in May. His successor, Fed Chairman Kevin Warsh, said he would hire an independent auditor to verify accuracy and compliance for all of the project's costs.