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Overview
- Jeanine Pirro, who halted the criminal probe Friday, transferred it to the Federal Reserve’s inspector general and said she could reopen it if new facts emerge.
- Senator Thom Tillis ended his hold on Kevin Warsh’s nomination after DOJ assurances that the criminal case was resolved, and the Senate Banking Committee set a vote for April 29.
- Jerome Powell has said he would stay until any Justice Department inquiry was settled, so the inspector general’s review means his departure from the Board is not assured.
- The Fed is expected to keep its benchmark rate at 3.50% to 3.75% at this week’s policy meeting, with Powell likely to lead the decision and face questions about inflation risks.
- Powell’s chair term ends May 15 but his Board seat runs to 2028, which could limit President Trump’s ability to add another governor and could leave overlapping influence at the central bank.