Overview
- Federal prosecutors ended the criminal inquiry into Federal Reserve Chair Jerome Powell tied to the central bank’s headquarters renovation, and the review now shifts to the Fed’s inspector general.
- Chief Judge James E. Boasberg had already quashed Justice Department subpoenas in the case, saying prosecutors produced essentially zero evidence.
- The closure removes the threat that had stalled action on Trump’s Fed pick Kevin Warsh, after Sen. Thom Tillis warned he would hold up confirmation while the probe remained open.
- The outcome adds to U.S. Attorney Jeanine Pirro’s run of high-profile failures on cases targeting Trump’s rivals, even as some reports still float her as a possible attorney general contender.
- MS NOW reported that Trump publicly disputed that the case was dropped, highlighting how political pressure on the Fed has collided with the courts and the department’s retreat from a criminal path.