DOJ Won't Reopen Criminal Probe Into Powell Over Fed Renovation, Blanche Says

The US Justice Department will not reopen a criminal investigation into former Federal Reserve Chair Jerome Powell over cost overruns on the central bank's building renovation, Attorney General Todd Blanche said Friday, October 2, 2026. Blanche told Bloomberg he was satisfied with a Fed Inspector General report issued this week that found no evidence of criminal wrongdoing by Powell tied to the $2.4 billion project. He nonetheless said Powell had not appropriately overseen the work. The Fed has said it will hire an independent auditor to scrutinize building costs. Blanche said the Justice Department could investigate if that review uncovers evidence of criminal wrongdoing, and did not rule out continued scrutiny of the project's oversight.