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The inquiry, approved in November by [US Attorney Jeanine] Pirro, is examining Powell's public testimony and Federal Reserve spending records related to the renovation, which is now estimated to be $700 million over budget, with total costs nearing $2.5 billion, The New York Times reported Sunday night.

[Newsmax.com] Federal Reserve Chair Jerome Powell said Sunday the Department of Justice has served the central bank with subpoenas and threatened it with a criminal indictment over his testimony about the Fed's building renovations. (Screengrab image: via Federal Reserve)

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