US Justice Department won't reopen investigation into Jerome Powell

Jerome Powell: Jerome Powell is the former Chair of the Federal Reserve who completed his term in that role and continued service as a governor on the Board. The Justice Department has chosen not to reopen criminal inquiries tied to cost overruns on the central bank's building renovation project under his prior leadership. Recent findings from the Federal Reserve's inspector general supported clearing him of any wrongdoing in the matter. US Justice Department: The US Department of Justice is the federal executive department responsible for enforcing federal laws, representing the United States in legal matters, and overseeing criminal investigations. In the context of this news, it has decided against reopening a criminal probe into former Federal Reserve Chair Jerome Powell regarding headquarters renovation costs. Attorney General Todd Blanche noted that oversight of the project may continue if new evidence emerges. Investigation Closure: The Justice Department's decision follows an earlier closure of the probe and aligns with the inspector general's determination of no criminal violations. Inspector General Findings: A Federal Reserve Office of Inspector General review concluded there were no grounds for criminal referrals or findings of administrative misconduct related to the headquarters renovation. Renovation Oversight Shift: The Federal Reserve has partnered with the General Services Administration to manage completion of the headquarters renovation project following the inspector general's assessment.