DOJ Drops Powell Probe, Smoothing Path for Warsh to Lead Fed

The Justice Department is ending a controversial investigation into building-renovation cost overruns at the Federal Reserve, potentially clearing a path to confirmation for Kevin Warsh, President Donald Trump’s pick to be the next chair of the central bank.

Jeanine Pirro, US Attorney for the District of Columbia, said in a social media post Friday the Fed’s Office of Inspector General had been asked to scrutinize the cost overruns. She said she expects a report soon on the findings.