Fed Chair Powell involved in renovation cost overrun case; US DOJ drops criminal investigation
The US Department of Justice has dropped a criminal investigation into Federal Reserve Chair Jerome Powell regarding cost overruns for the renovation of the Fed headquarters, transferring the probe to the Fed's Inspector General.
📋 Article Processing Timeline
- 📰 Published: April 25, 2026 at 00:18
- 🔍 Collected: April 25, 2026 at 00:32 (13 min after Published)
- 🤖 AI Analyzed: April 25, 2026 at 00:53 (20 min after Collected)
Central News Message
(CNA Washington 24th Comprehensive Foreign Broadcast) U.S. Federal Reserve (Fed) Chair Jerome Powell recently faced a judicial investigation over cost overruns for the renovation of the headquarters. Today, Jeanine Pirro, the U.S. Attorney for the District of Columbia, announced the end of the criminal investigation into him.
Jeanine Pirro posted on social media that the investigation into the renovation cost overruns will be transferred to the Fed's Inspector General, stating, "Therefore, I have instructed my office to end this investigation."
Jerome Powell's term is set to expire in mid-May. The administration of U.S. President Donald Trump had previously launched an investigation into his suspected involvement in the cost overruns of the Fed's renovation project.
The core of the investigation is the Fed headquarters renovation project, which began construction in 2022 and is expected to be completed in 2027. It is estimated that the budget has exceeded by approximately 700 million US dollars. (Translator: Chen Yen-chun) 1150424
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(CNA Washington 24th Comprehensive Foreign Broadcast) U.S. Federal Reserve (Fed) Chair Jerome Powell recently faced a judicial investigation over cost overruns for the renovation of the headquarters. Today, Jeanine Pirro, the U.S. Attorney for the District of Columbia, announced the end of the criminal investigation into him.
Jeanine Pirro posted on social media that the investigation into the renovation cost overruns will be transferred to the Fed's Inspector General, stating, "Therefore, I have instructed my office to end this investigation."
Jerome Powell's term is set to expire in mid-May. The administration of U.S. President Donald Trump had previously launched an investigation into his suspected involvement in the cost overruns of the Fed's renovation project.
The core of the investigation is the Fed headquarters renovation project, which began construction in 2022 and is expected to be completed in 2027. It is estimated that the budget has exceeded by approximately 700 million US dollars. (Translator: Chen Yen-chun) 1150424
Choose to stand with facts. Every sponsorship of yours is the power to guard freedom of the press.
Download the CNA "First-hand News" APP to grasp the latest news instantly.
The text, images, and audio/video on this website are not to be reproduced, broadcast publicly, transmitted publicly, or utilized without authorization.