The announcement on Friday is expected to clear the path for the confirmation of his successor, Kevin Warsh.By AP and ReutersPublished On 24 Apr 202624 Apr 2026The United States Department of Justice has ended its probe into US Federal Reserve chair Jerome Powell, clearing a major roadblock to the confirmation of his successor, Kevin Warsh.US Attorney for the District of Columbia Jeannine Pirro said on X on Friday that her office was ending its probe into the Fed’s extensive building renovations because the Fed’s inspector general would scrutinise them instead.Recommended Stories list of 4 itemsend of listPirro, a Trump ally and the top federal prosecutor in Washington, DC, said she had instead asked the Fed’s internal watchdog, the Office of Inspector General, to examine cost overruns in renovations of the central bank’s Washington headquarters.“The IG has the authority to hold the Federal Reserve accountable to American taxpayers,” Pirro said in a social media post. “I expect a comprehensive report in short order and am confident the outcome will assist in resolving, once and for all, the questions that led this office to issue subpoenas.”The move could lead to a swift confirmation vote by the Senate for Warsh, a former top Fed official whom US President Donald Trump, a Republican, nominated in January to replace Powell. Powell’s term as chair ends May 15.Senator Thom Tillis, a North Carolina Republican, had said he would oppose Warsh until the investigation was resolved, effectively blocking his confirmation.The leadership transition at the world’s leading central bank could now proceed quickly.Republicans praised Warsh during a Tuesday hearing even as Democrats questioned his independence from Trump, the lack of transparency around some of his financial holdings, and what they said was his flip-f …
