Fed Renovation Probe Ends After Trump Pressure Fails
The Justice Department closed its investigation into Federal Reserve building renovation costs after a judge blocked subpoenas. Jerome Powell completed his term as chair and remained on the board.
United States President Donald Trump's administration targeted Federal Reserve headquarters renovation overruns to pressure monetary policy. The cost for upgrading the historic Washington buildings grew to $2.46 billion. The pressure campaign sparked an unprecedented legal battle over central bank independence.
