Prosecutor conceded lack of criminal evidence in Federal Reserve investigation, transcript shows

Newly released court records indicate the Justice Department's investigation of a $2.5 billion renovation project at the Federal Reserve didn’t find any evidence of a crime before a judge quashed government subpoenas, dealing a severe blow to the probe. During a closed-door hearing on March 3, Assistant U.S. Attorney Andrew Massucco couldn't point to any evidence of fraud or criminal misconduct stemming from Fed Chair Jerome Powell’s testimony about the renovation project. Eight days later, Chief Judge James Boasberg quashed government subpoenas issued to the Federal Reserve. The exchange between the prosecutor and the judge is contained in a transcript for the hearing, which was sealed from the public.