A criminal investigation that threatened to stall the Federal Reserve’s leadership transition is nearing its end. The Justice Department is expected to drop its probe into Jerome Powell, the sitting Federal Reserve chair, as early as today, ABC News reported.

Powell is the first central bank leader to face such a probe. The move is expected to remove the main obstacle preventing Kevin Warsh, a former Fed governor and President Trump’s pick to lead the central bank, from advancing through Senate confirmation.

The investigation, launched by DC US Attorney Jeanine Pirro, was nominally about cost overruns on a renovation of the Fed’s Washington headquarters. The project’s price tag grew from an original $1.9 billion budget to roughly $2.5 billion. Powell, however, had already asked the Fed’s own inspector general to re-examine the project last year.

The probe landed as the Trump administration was urging rate cuts, prompting scrutiny of its stated justification. Powell said it was political pressure on the Federal Reserve, as Trump continually called him “too slow” and threatened removal.

DOJ outreach to senators

Senior DOJ officials have begun quietly reaching out to senators, including Banking Committee Republican Thom Tillis, as they consider ending the criminal probe and shifting renovation cost questions to the Fed’s internal watchdog.

It is unclear whether prosecutors will also abandon their appeal of a March ruling by DC District Judge James Boasberg, who invalidated subpoenas issued by Jeanine Pirro and found the investigation lacked sound legal footing.

Pirro maintained this week that the probe would proceed.

Tillis, who in January vowed to block all Fed nominees until the matter was resolved, called the investigation “weak” and “frivolous.” His opposition, combined with unified Democratic resistance, left Warsh without a viable path out of the Banking Committee.

Powell’s term ends May 15, though he has indicated he will remain until a successor is confirmed.