The U.S. Attorney announced that they will cease the investigation into the cost overrun of the renovation of the Federal Reserve building.

U.S. Federal Prosecutor Jeanine Pirro announced that she will terminate the investigation into cost overruns in the renovation of the Federal Reserve building. Pirro posted on social media on Friday that she has requested the Inspector General of the Federal Reserve to review the cost overruns and expects a report soon. She stated in the post, "Given that the Inspector General has initiated an investigation, I have instructed my office to end our investigation. However, it is important to emphasize that if the facts warrant, I will not hesitate to restart a criminal investigation." U.S. District Chief Judge James Boasberg revoked two grand jury subpoenas issued by Pirro in January earlier this year. This investigation has also caused uncertainty in the anticipated leadership transition at the Federal Reserve. Powell's chairmanship will end on May 15th, and Trump has nominated former Federal Reserve Board member Kevin Warsh as his replacement.