Overview
- Jeanine Pirro ordered her office to drop the investigation into Jerome Powell over Federal Reserve renovation spending.
- Her move satisfies Senator Thom Tillis’s stated requirement for supporting Kevin Warsh as Powell’s successor.
- Kevin Warsh remains President Trump’s nominee and still needs approval from the Senate Banking Committee.
- Powell said the threat of charges was an attempt to influence the Fed’s decisions on interest rates.
- Trump has pressed the Fed to cut rates and has publicly attacked Powell over the past year.