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U.S. Attorney for the District of Columbia Jeanine Pirro announced Friday she directed her office to close its investigation into the Federal Reserve over a building project.
“This morning the Inspector General for the Federal Reserve has been asked to scrutinize the building costs overruns – in the billions of dollars – that have been borne by taxpayers,” Pirro wrote on X. “The IG has the authority to hold the Federal Reserve accountable to American taxpayers. I expect a comprehensive report in short order and am confident the outcome will assist in resolving, once and for all, the questions that led this office to issue subpoenas.”
“Accordingly, I have directed my office to close our investigation as the IG undertakes this inquiry. Note well, however, that I will not hesitate to restart a criminal investigation should the facts warrant doing so,” she added.
The announcement comes after Federal Reserve Chairman Jerome Powell revealed in January that the DOJ had opened an investigation into him, though prosecutors encountered a roadblock after Judge James Boasberg, chief judge of the federal district court in Washington, D.C., blocked the department from subpoenaing the chairman.
In the lead-up to the probe, Trump and Powell’s relationship had grown increasingly rocky, as Trump became frustrated over interest rates and began targeting Powell, who he nominated in 2017, calling him a “fool” and saying he should be dropping rates “immediately.”
Sen. Thom Tillis, R-N.C., who sits on the Senate Banking Committee, had vowed to block Kevin Warsh’s confirmation because of the DOJ’s investigation, after Trump nominated Warsh to replace Powell, whose term was set to expire on May 15.
Fox News Digital reached out to Tillis about Pirro’s announcement.
This is a breaking news story. Check back for updates.
