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The Department of Justice is dropping its investigation into the Federal Reserve and Chairman Jerome Powell over a renovation at the central bank's headquarters. NBC News' Ryan Reilly has details on the decision and what comes next for Powell and the Justice Department.
Justice Department drops investigation into Jerome Powell
The announcement on Friday is expected to clear the path for the confirmation of his successor, Kevin Warsh.
U.S. Attorney Jeanine Pirro announced Friday that the Justice Department is dropping the investigation into Federal Reserve Chairman Jerome Powell.
President Donald Trump had accused Powell of improper cost overruns in renovating the Fed's building.
U.S. Attorney Jeanine Pirro said that the Federal Reserve's inspector general will investigate cost overruns in project to renovate the central bank's headquarters.
The Justice Dept. dropped a probe of the Federal Reserve and Chair Jerome Powell, clearing the way for Trump's Fed chair pick Kevin Warsh to be confirmed.
