Prosecutors from U.S. Attorney Jeanine Pirro's office in Washington made an unannounced visit Tuesday to the Federal Reserve's headquarters renovation site but were turned away without access. The team, consisting of prosecutors Carlton Davis and Steven Vandervelden, along with investigator Matthew Fox-Moles, arrived around 11 a.m. and requested a tour to check the project's progress, according to people familiar with the matter.

Construction workers at the site informed the visitors that they lacked prior clearance and could not enter due to safety protocols. Instead, they provided contact information for the Fed's legal staff. Robert Hur, outside counsel for the Federal Reserve, later sent an email to the prosecutors objecting to the visit. "As you know, Chief Judge Boasberg has concluded that your interest in the Federal Reserve's renovation project was pretextual," Hur wrote. "Should you wish to challenge that finding, the courts provide an avenue for you; it is not appropriate for you to try to circumvent it."

The episode stems from a criminal investigation opened in November 2025 by Pirro's office into Federal Reserve Chair Jerome Powell over the headquarters renovation, now costing about $2.5 billion, nearly 80% over the original budget. Prosecutors allege Powell provided false or misleading testimony to Congress in June 2025 about the project's scope and features, such as denying plans for luxury elements like VIP dining rooms or new marble.

In January 2026, Pirro's office issued grand jury subpoenas to the Fed seeking internal documents and testimony. Powell publicly disclosed the subpoenas, calling them an attempt to intimidate the central bank. In March, U.S. District Judge James Boasberg quashed the subpoenas, ruling there was "no evidence whatsoever that Powell committed any crime other than displeasing the President." A prosecutor from Pirro's office conceded during a closed-door hearing that month that investigators lacked evidence of misconduct. Boasberg denied a Justice Department motion to reconsider earlier this month.

Pirro has vowed to press forward with the probe despite the setbacks. "Any construction project that has cost overruns of almost 80% over the original construction budget deserves some serious review," she said recently. "And these people are in charge of monetary policy in the United States?" A spokesperson for Pirro's office confirmed the visit but declined further comment. The Federal Reserve did not respond to requests for comment.

The investigation has drawn criticism from former Fed officials and economists across parties, who view it as an assault on the central bank's independence. It also complicates President Donald Trump's plans to replace Powell, whose term as chair ends May 15, 2026, with former Fed Governor Kevin Warsh. Republican Sen. Thom Tillis has said he will not support advancing Warsh's nomination until the probe concludes. Trump toured the site with Powell last summer and has repeatedly criticized the costs and the Fed's reluctance to cut interest rates aggressively.

No charges have been filed, and Powell has stated he intends to remain in his role with independence intact until replaced.