DOJ dropping criminal probe of Fed Chair Jerome Powell amid pressure from senators

The Department of Justice is dropping its criminal investigation into Federal Reserve Chair Jerome Powell, ending a standoff that threatened to delay the confirmation of Powell's successor at the central bank, District of Columbia U.S. Attorney Jeanine Pirro said Friday.

Senior DOJ officials have contacted senators in recent days, including Republican Sen. Thom Tillis, who sits on the Senate Banking Committee, informing them of the plan to drop the probe and refer the matter regarding alleged cost overruns at the Fed's Washington headquarters to the bank's internal watchdog, sources told ABC News...