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Criminal Investigation of Jerome Powell Concluded, Clearing Path for Warsh's Confirmation

KVIA•Friday, April 24, 2026 at 2:28 PM•CNN Newsource

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AI Summary

The US Attorney for the District of Columbia, Jeanine Pirro, announced the closure of the criminal investigation into Federal Reserve Chair Jerome Powell, facilitating the confirmation of Kevin Warsh as Powell's successor. The investigation stemmed from accusations by former President Trump regarding Powell's management of interest rates and a costly renovation project at the Fed's headquarters. With Powell's term ending on May 15, Warsh's nomination faced a blockade from Senator Thom Tillis until the probe was dropped. The conclusion of the investigation alleviates concerns over potential political interference in the Federal Reserve's operations, which is crucial for maintaining economic stability.

Key Details: • Jerome Powell's term ends on May 15. • Kevin Warsh's confirmation hearing occurred earlier this week. • Senator Thom Tillis promised to support Warsh's nomination after the probe's closure. • The investigation was initiated following Trump's criticism of Powell's performance.

trump investigation federal-reserve jerome-powell kevin-warsh

People & Organizations

Donald TrumpDepartment of JusticeWashington, DCFederal ReserveJerome PowellThom TillisJeanine PirroKevin Warsh

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