DOJ Drops Powell Probe

The Department of Justice (DOJ) has dropped a criminal investigation into the Federal Reserve after months of probing the independent central bank's $2.5 billion building renovations and failing to turn up evidence of a crime.

U.S. Attorney Jeanine Pirro, the top federal prosecutor in D.C., said in a social media post Friday that she had closed the probe, though she added that it could resume later if the Fed's inspector general finds evidence of wrongdoing in its own review of the construction project's cost overruns.

"I will not hesitate to restart a criminal investigation should the facts warrant doing so," Pirro said in a post on X.

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