Trump says he still wants answers on Fed building costs after DOJ probe

President Donald Trump reiterated his demand for answers on the Federal Reserve's controversial building renovation costs after the Justice Department shifted its investigation to an internal watchdog review.

U.S. Attorney Jeanine Pirro moved the probe to the inspector general's office rather than pursuing it through DOJ's criminal division, a decision that effectively reduces the likelihood of criminal charges. The Fed's headquarters renovation, which has drawn intense scrutiny from Capitol Hill, has been estimated to cost over $2 billion — a figure that has drawn comparisons to other bloated federal construction projects.

Trump has made the Fed's spending a recurring theme, tying it to his broader push to reshape the central bank's leadership. The Senate is expected to vote on Kevin Warsh's confirmation as Fed chair next week, a move that could fundamentally alter the direction of monetary policy.

Critics argue the inspector general referral is a way to bury the investigation without consequences. Supporters say it follows proper procedure for examining internal agency spending.

What This Means For You: The Fed renovation story is about more than construction costs — it's a window into the broader political fight over who controls the central bank. If Warsh is confirmed, expect a shift in how the Fed communicates and potentially a different approach to interest rate decisions that could affect your mortgage rates and investment returns.