- The Department of Justice officially ended its criminal probe into Jerome Powell on April 24, 2026, regarding alleged cost overruns in the Federal Reserve building renovations.
- White House spokesperson Kush Desai stated that the investigation will now be handled by the Federal Reserve Inspector General to ensure taxpayer answers on fiscal mismanagement.
- The decision removes a significant political hurdle for Kevin Warsh, President Trump's nominee to succeed Powell, whose confirmation had been blocked by Senator Thom Tillis.
- Federal Judge James Boasberg previously criticized the probe, stating that prosecutors had produced essentially zero evidence of criminal conduct by the Fed Chair.
- Market uncertainty regarding the future leadership of the central bank has eased as Powell's term is set to expire on May 15, 2026.
Justice Department drops criminal investigation into Federal Reserve Chair Jerome Powell
Apr 24, 2026, 5:26:04 PM UTC(20 hours ago)
Impact: Medium
Affected Assets
Sources
From:@DeItaone
White House: Jerome Powell investigation still continues
