DOJ Drops Criminal Probe Of Fed Chair Powell, Clearing Way For Warsh

The Justice Department has ended its investigation into Federal Reserve chair Jerome Powell, clearing a major roadblock to the confirmation of Kevin Warsh as his successor. U.S. Attorney for the District of Columbia Jeannine Pirro said on X on Friday her office was ending its probe into the Fed’s extensive building renovations because the Fed’s inspector general would scrutinize them instead. The move could lead to a swift confirmation vote by the Senate for Warsh, a former Fed official President Donald Trump nominated in January to replace Powell. The investigation was among several undertaken by the Justice Department into the Republican president's perceived adversaries. Powell says the investigation was intended to intimidate the Fed.