Department of Justice to close criminal investigation into Fed's Powell

• DOJ to close its criminal investigation into Fed Chair Jay Powell.
• The Inspector General for the Federal Reserve will now scrutinize building costs overruns, which were the subject of the DOJ's inquiry.
• This move is expected to clear the way for Senator Tom Tillis to potentially vote on Kevin Warsh's nomination for Fed Chair, as Tillis had previously conditioned his vote on the closure of Powell's investigation.

The Department of Justice (DOJ) is closing its criminal investigation into Federal Reserve Chair Jay Powell, as announced by US Attorney Janine Pirro. The Inspector General for the Federal Reserve will now scrutinize the building costs overruns. This development is seen as positive for Powell and potentially clears a hurdle for Kevin Warsh's nomination to be Fed Chair.