The US Justice Department will not reopen a criminal investigation into former Federal Reserve chair Jerome Powell over cost overruns tied to the central bank's building renovation project, a department spokesperson said Friday.
Attorney general Todd Blanche told Bloomberg News that he has not ruled out continuing to examine the project's oversight. Blanche said the department could take action if evidence of wrongdoing emerges.
Powell had previously been investigated in connection with the renovation costs. The decision not to reopen the probe marks the end of that criminal inquiry.