Trump's DOJ drops probe that stood in way of president's pick to run Federal Reserve
The DOJ has closed its criminal investigation into Jerome Powell, clearing a potential Senate confirmation hurdle for Kevin Warsh as the new Fed chair.Summary
The U.S. Department of Justice has dropped its criminal investigation into Federal Reserve Chair Jerome Powell regarding building project cost overruns. Attorney General Jeanine Pirro announced that the probe has been referred to the Fed's inspector general, allowing for a potential path forward for President Donald Trump’s nominee, Kevin Warsh. Republican Senator Thom Tillis had previously pledged to block Warsh's confirmation until the investigation was dropped, citing concerns over the Fed's independence. While the move has significantly increased the perceived likelihood of Warsh's confirmation, critics like Senator Elizabeth Warren argue the administration is politically maneuvering to control the Federal Reserve, noting that investigations into other Fed officials remain active.
(Source：CoinDesk)