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Justice Department drops probe into Fed Chair Jerome Powell
The move would end a dispute over $2.5 billion in Fed renovation costs and clear a key obstacle to Kevin Warsh’s confirmation, sources said.
- On Friday, April 24, 2026, the Department of Justice announced it is closing its criminal investigation into Federal Reserve Chairman Jerome Powell. The decision removes a major source of tension between the administration and the central bank just weeks before Powell's term as Chair expires on May 15.
- U.S. Attorney Jeanine Pirro announced that her office is shuttering the criminal probe, which had focused on whether Powell misled Congress regarding $2.5 billion in cost overruns for the Federal Reserve’s headquarters renovation. The case will now be transitioned to the Federal Reserve’s Office of Inspector General for a non-criminal administrative review of the project's spending.
- The move follows a series of setbacks for the DOJ, including a March ruling by a federal judge who blocked subpoenas against Powell. The judge stated that the government had produced "essentially zero evidence" of a crime and suggested the investigation appeared to be a pretext intended to pressure the Fed into lowering interest rates.
- The closure of the probe clears the path for Kevin Warsh, President Trump’s nominee to succeed Powell. Senator Thom Tillis had previously vowed to block all Fed-related votes until the "politically motivated" investigation was dropped; with the probe now closed, the Senate is expected to move forward with Warsh’s confirmation vote.
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Due to a renovation project, the U.S. Department of Justice had opened an investigation into the US Federal Reserve, and the investigation is now to be conducted in-house.
·Germany
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The investigation against US Federal Reserve Chief Jerome Powell caused a stir and provoked criticism. The prosecutor behind the action is now making a turnaround.
·Frankfurt, Germany
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JAV teisingumo departamentas nutraukė baudžiamąjį tyrimą dėl Fed‘o pirmininko Powello
JAV prokurorė Jeanine Pirro penktadienį nutraukė baudžiamąjį tyrimą Federalinės rezervų sistemos pirmininko Jerome‘o Powello atžvilgiu, taip atverdama kelią jo įpėdinio patvirtinimui. Šis sprendimas priimtas tvyrant susirūpinimui dėl prezidento Donaldo Trumpo atakų prieš nepriklausomą centrinį banką.
·Vilnius, Lithuania
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Total News Sources90
Leaning Left22Leaning Right17Center41Last UpdatedBias Distribution51% Center
Bias Distribution
- 51% of the sources are Center
51% Center
L 28%
C 51%
R 21%
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