Attorney General Todd Blanche said the Justice Department is not reopening a criminal investigation of former Fed Chair Jerome Powell over renovation cost overruns, while leaving open a further look at project oversight.
The US Justice Department is not reopening a criminal investigation of former Federal Reserve Chair Jerome Powell over cost overruns on the central bank's building renovation, a department spokesperson and Attorney General Todd Blanche said on Friday. Bloomberg reported the comments first.
Blanche told Bloomberg he has not ruled out continuing to look at the project's oversight and taking action if evidence of wrongdoing appears. He said the department was not reopening a criminal investigation into Powell.
The Fed's inspector general said on Wednesday it found no grounds for a criminal referral and no evidence of administrative misconduct tied to the overruns, while still criticising oversight as lax. Reuters said that finding drew a fresh call from President Donald Trump for Powell's resignation.
Powell said at his final press conference as Fed chair in April that he would not leave the Board until the investigation was over with transparency and finality.
The development is a decision not to reopen a criminal case, not a finding that every oversight question is closed. Blanche left the door open if a further review produced evidence of crime.
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- Blanche said the department is not reopening a criminal investigation into Powell.
- Trump again called for Powell's resignation after the inspector general report, Reuters said.