Justice Dept. Ends Probe of Fed Chair Powell
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- Justice Department ends criminal probe of Fed Chair Jerome Powell, shifting the inquiry to the Fed’s inspector general for renovation cost overruns.
- Kevin Warsh clears a major hurdle for Senate confirmation after Republican Senator Thom Tillis said he would block the vote if the probe persisted.
- Jerome Powell faces the end of his term on May 15, making the probe’s closure pivotal for the Fed’s leadership transition.
- Elizabeth Warren cautions the closure won’t end political pressure, citing the DOJ’s threat to restart the probe and its ongoing case against Governor Lisa Cook.
Why it matters: Kevin Warsh gains a smoother confirmation; the Fed avoids a political showdown before Powell’s term ends May 15, preserving market stability and limiting Trump’s leverage over monetary policy.
