The Justice Department has dropped its investigation into the years-old costly renovation of the central bank’s headquarters, opening the door for the senator. Thom Tillis (R-N.C.) has lifted its hold on the confirmation of Kevin Wersh to replace outgoing Fed Chairman Jerome Powell.
“This morning the Inspector General of the Federal Reserve has been asked to investigate the billions of dollars of building cost overruns – borne by taxpayers,” said Jeanine Pirro, U.S. Attorney in Washington, D.C., who oversaw the investigation. Posted on xFriday morning. “Accordingly, I have directed my office to close our investigation as the IG conducts this investigation.”
Powell – who has called the investigation a pretext to push for rate cuts – had already directed the Fed’s internal watchdog to investigate renewables-related cost increases last year.
