U.S. Justice Department Ends Investigation into Federal Reserve, Paving Way for Waller's Nomination Approval

On April 25, U.S. Attorney General Janina Pirro announced on the 24th that, given the Federal Reserve’s plans to conduct an internal investigation regarding cost overruns on its office renovation project, she has instructed the U.S. Attorney’s Office for the District of Columbia to conclude its investigation into the Federal Reserve’s renovation project. According to U.S. media analysis, the Justice Department’s decision to end the criminal investigation related to Federal Reserve Chairman Jerome Powell will pave the way for Senate approval of Kevin Waller, nominated by President Trump as the next chair of the Federal Reserve. Pirro stated on social media that the Federal Reserve’s Inspector General has been asked to review the cost overruns on the renovation project, which are borne by taxpayers and amount to billions of dollars. She believes the investigation results will help ‘resolve the issues’ and also indicated that she would not hesitate to restart the criminal investigation if necessary.