And it would have been open a long time ago."The Fed had an approved budget of $2.46 billion for the renovations, but went over budget because of things like more asbestos than expected and costs going up during the course of the renovation, the Fed says on its website.Pirro said Friday the Fed's inspector general, Michael Horowitz, would take over the investigation, moving it from the hands of federal prosecutors into those of a longtime government watchdog.TRUMP ADMINISTRATION'S FEDERAL RESERVE HQ PROBE ESCALATES WITH UNANNOUNCED SITE VISIT BY PROSECUTORSPowell was under investigation over statements he made to Congress related to the management of the renovation costs.Powell revealed in a video announcement in January that the Department of Justice had opened an investigation into the Fed, calling it an unprecedented attempt to use "intimidation" to force him to lower interest rates.In the lead-up to the investigation, Trump and Powell's relationship had grown increasingly rocky, as Trump became frustrated over interest rates and began targeting Powell, whom he nominated in 2017. "It’s not cute," Tillis said during a television interview in February.During his confirmation hearing this week, Tillis told Warsh, who previously served on the Fed's Board of Governors, that he had "extraordinary credentials" but that he could not vote to advance his nomination in the Senate until the DOJ ended its investigation.Horowitz, who will now investigate the Fed building renovation costs, has drawn a mix of praise and criticism from Republicans while serving as DOJ inspector general for more than a decade. He was one of the few high-profile inspectors general spared during Trump's historic cull of government watchdogs last year and has found allyship in key figures like House Judiciary Committee Chairman Jim Jordan, R-Ohio.Pirro closing the investigation could pave the way for Warsh’s nomination.Trump said he wanted to see the investigation through "for the country.""It’s much tougher, much more expensive to build a hotel than an office," the president said, mentioning his Trump International Hotel in Washington, D.C., that he sold in 2022 and was renamed the Waldorf Astoria.He continued, "I want to find out how can a building of that size cost for whatever it's going to be.
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