Justice Department Closes Investigation into Jerome Powell

The Justice Department has ended its investigation into Federal Reserve Chair Jerome Powell, clearing a path for Kevin Warsh's confirmation to lead the central bank. The inquiry involved Powell's statements and cost overruns at the Fed's headquarters. An internal review continues as Powell remains in his position.

The Justice Department has officially concluded its investigation concerning Federal Reserve Chair Jerome Powell, as announced by U.S. Attorney Jeanine Pirro on Friday. This closure potentially facilitates the confirmation of Kevin Warsh, appointed by President Donald Trump, to helm the central bank.

Having been criticized by a federal judge for its motives, the investigation's termination allows Warsh's nomination, delayed by Republican senator Thom Tillis, to advance without further hindrance. Pirro has referred the matter of headquarters renovation cost overruns to the Office of Inspector General.

This decision may expedite Warsh's Senate confirmation, although Powell intends to remain until the investigation concludes with full transparency and certainty. Powell previously criticized the investigation as a strategy for Trump to exert pressure on monetary policy decisions.