US Attorney General Blanche Says DOJ Will Not Reopen Criminal Probe Into Former Fed Chair Powell

Attorney General Todd Blanche said the Justice Department is not reopening a criminal investigation into former Federal Reserve Chair Jerome Powell over cost overruns tied to the central bank's building renovation project. The probe had centered on what became a roughly $2.5 billion renovation of the Fed's headquarters, an inquiry that was previously dropped after investigators failed to find evidence of a crime.

Blanche did not entirely close the door on the matter, stopping short of ruling out further scrutiny of the project's oversight and leaving open the possibility of action if new evidence of wrongdoing emerged. Powell, who led the Fed during the period in question, is now a former chair following the completion of his term.