US Attorney General Blanche said in an interview with Bloomberg on the 2nd that the Trump administration will not reopen a criminal investigation into former Federal Reserve Chair Powell over the ballooning cost of the Federal Reserve Board's headquarters renovation, an issue the administration has criticized. The decision followed a report released on the 30th of last month by the Office of Inspector General, which investigates misconduct within the Fed, that he found commendable. The report concluded that no evidence of illegal conduct was found regarding the cost overruns, but it pointed to "management deficiencies" in the nearly 1 billion dollars, or about 158 billion yen, by which the renovation costs exceeded the original plan, and recommended corrective measures. The focus going forward is Powell's future, and he has indicated he intends to remain on the Board until the criminal investigation is concluded transparently; his term as a governor runs until January 2028.
