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The announcement on Friday is expected to clear the path for the confirmation of his successor, Kevin Warsh.<\/em><\/p>\n<\/div>\n Published On 24 Apr 2026<\/span>24 Apr 2026<\/span><\/p>\n<\/div>\n<\/div>\n The United States Department of Justice has ended its probe into US Federal Reserve chair Jerome Powell, clearing a major roadblock to the confirmation of his successor, Kevin Warsh.<\/p>\n US Attorney for the District of Columbia Jeannine Pirro said on X on Friday that her office was ending its probe into the Fed\u2019s extensive building renovations because the Fed\u2019s inspector general would scrutinise them instead.<\/p>\n list of 4 items<\/span>end of list<\/span><\/section>\n Pirro, a Trump ally and the top federal prosecutor in Washington, DC, said she had instead asked the Fed\u2019s internal watchdog, the Office of Inspector General, to examine cost overruns in renovations of the central bank\u2019s Washington headquarters.<\/p>\n \u201cThe IG has the authority to hold the Federal Reserve accountable to American taxpayers,\u201d Pirro said in a social media post. \u201cI expect a comprehensive report in short order and am confident the outcome will assist in resolving, once and for all, the questions that led this office to issue subpoenas.\u201d<\/p>\n The move could lead to a swift confirmation vote by the Senate for Warsh, a former top Fed official whom US President Donald Trump, a Republican, nominated in January to replace Powell. Powell\u2019s term as chair ends May 15.<\/p>\n Senator Thom Tillis, a North Carolina Republican, had said he would oppose Warsh until the investigation was resolved, effectively blocking his confirmation.<\/p>\n The leadership transition at the world\u2019s leading central bank could now proceed quickly.<\/p>\n Republicans praised Warsh during a Tuesday hearing even as Democrats questioned his independence from Trump, the lack of transparency around some of his financial holdings, and what they said was his flip-flopping on interest rates. Senator Elizabeth Warren of Massachusetts, the ranking Democrat on the committee, questioned if Warsh will be a \u201csock puppet\u201c.<\/p>\n Still, Trump\u2019s previous appointment to the Fed\u2019s board of governors, Stephen Miran, was approved by the full Senate just 13 days after his nomination.<\/p>\n The investigation was among several undertaken by the Department of Justice into Trump\u2019s perceived adversaries. For months, it had failed to gain traction as prosecutors struggled to articulate a basis to suspect criminal conduct.<\/p>\n A prosecutor handling the case conceded at a closed-door court hearing in March that the government had not yet found any evidence of a crime, and a judge subsequently quashed subpoenas issued to the Federal Reserve.<\/p>\n The judge, James Boasberg, said prosecutors had produced \u201cessentially zero evidence\u201d to suspect Powell of a crime. Boasberg branded prosecutors\u2019 justification for the subpoenas as \u201cthin and unsubstantiated\u201d.<\/p>\n More recently, prosecutors made an unannounced visit to a construction site at the Fed\u2019s headquarters but were turned away, drawing a rebuke from a defence lawyer in the case who called the manoeuvre \u201cnot appropriate\u201d.<\/p>\n Warsh said\u00a0during the Senate hearing on\u00a0Tuesday that he never promised the White House that he would cut interest rates, even as the president renewed\u00a0his calls\u00a0for the central bank to do so.<\/p>\n \u201cThe president never once asked me to commit to any particular interest rate decision, period,\u201d Warsh said during the hearing. \u201cNor would I ever agree to do so if he had \u2026 I will be an independent actor if confirmed as chair of the Federal Reserve.\u201d<\/p>\n Warsh\u2019s comments came just hours after Trump, in an interview on CNBC, was asked if he would be disappointed if Warsh did not immediately cut rates and responded, \u201cI would.\u201d<\/p>\n The decision to abandon the investigation represents a rare pullback for a Department of Justice that over the last year has moved aggressively, albeit unsuccessfully, to prosecute public figures the president does not like.<\/p>\n Robert Hur, an lawyer for the Federal Reserve Board of Governors, did not immediately respond on Friday to an email seeking comment.<\/p>\n<\/div>\n The announcement on Friday is expected to clear the path for the confirmation of his successor, Kevin Warsh. Published On 24 Apr 202624 Apr 2026 The United States Department of Justice has ended its probe into US Federal Reserve chair Jerome Powell, clearing a major roadblock to the confirmation of his successor, Kevin Warsh. US […]<\/p>\n","protected":false},"author":1,"featured_media":17624,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-20220","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-us-canada-news"],"_links":{"self":[{"href":"https:\/\/inernews.online\/index.php?rest_route=\/wp\/v2\/posts\/20220","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/inernews.online\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/inernews.online\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/inernews.online\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/inernews.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=20220"}],"version-history":[{"count":0,"href":"https:\/\/inernews.online\/index.php?rest_route=\/wp\/v2\/posts\/20220\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/inernews.online\/index.php?rest_route=\/wp\/v2\/media\/17624"}],"wp:attachment":[{"href":"https:\/\/inernews.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=20220"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/inernews.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=20220"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/inernews.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=20220"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Recommended Stories <\/h2>\n
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