finance
DOJ Refers Federal Renovation Probe to Inspector General
The U.S. Department of Justice ended its criminal investigation into Federal Reserve Chair Jerome Powell over headquarters renovations. Sen. Thom Tillis dropped his opposition to Kevin Warsh's nomination as Powell's successor. The move sets up a Senate committee vote on Warsh this week.
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U.S. Attorney Jeanine Pirro announcing in a social media post that she directed her office to close the probe into renovations at the Fed headquarters that went over budget.
The decision, made on Friday, refers the matter to the central bank's inspector general. Powell had vowed to stay on until the criminal probe is resolved. Sen. Thom Tillis of North Carolina announced on Sunday that he is dropping his opposition to the confirmation of Kevin Warsh, President Donald Trump's nominee for chairman of the Federal Reserve Board of Governors.
Tillis, a member of the Senate Banking, Housing, and Urban Affairs Committee, said he would vote to confirm Warsh. The Senate Banking Committee is set to vote on whether to advance Kevin Warsh's nomination on Wednesday. "I am prepared to move on with the confirmation of Mr.
Warsh. He added that he had received assurances from the Justice Department that the case is completely and fully settled and that the only way an investigation would be opened would be under specific conditions. Tillis said he looks forward to supporting Kevin Warsh’s confirmation for Fed Chair.
U.S. 5 billion renovation of the central bank's headquarters. U.S. attorney for the District of Columbia said her office's investigation of the Fed's multibillion-dollar building renovations was over.
9 billion. The Fed's internal watchdog is scrutinizing the project. Powell's brief congressional testimony last summer about the Fed's building work was under review.
Jerome Powell asked in July for the inspector general's review. Federal Reserve Chair Jerome Powell is likely in his final weeks at the central bank helm as of the current date. Jerome Powell's term as chair expires on May 15.
Kevin Warsh had a confirmation hearing this week.
Kevin Warsh testified during his nomination hearing to be a member and chairman of the Federal Reserve Board of Governors before the Senate Banking, Housing and Urban Affairs Committee on April 21, 2026, in Washington. Sen.
