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US justice department drops criminal investigation against Jerome Powell

Move will remove obstacle for confirmation of Kevin Warsh, Trump’s pick to replace Powell as Federal Reserve chair

The US Department of Justice is dropping its criminal investigation against the Federal Reserve chair, Jerome Powell, clearing the path for Donald Trump’s new nominee for chair to be confirmed.

Jeanine Pirro, Trump’s appointed US attorney for the District of Columbia, said in a social media post that she had directed her office to close its investigation into renovations at the Fed headquarters that went over budget.

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Apr 24, 2026 Federal Reserve Donald Trump Business

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