Home - CBSNews.com | Why is the DOJ dropping its Jerome Powell probe?

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The Justice Department has ended its criminal investigation into Federal Reserve Chair Jerome Powell, a probe that was tied to concerns about the estimated $2.5 billion cost of renovations to the Federal Reserve’s headquarters in Washington, D.C.; CBS News’ Katrina Kaufman reports on why the DOJ dropped the case.

Read more: https://www.cbsnews.com/video/why-doj-dropping-jerome-powell-probe/

#JeromePowell #FederalReserve #KatrinaKaufman

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Business | Justice Department drops criminal investigation of Fed chair Powell, likely clearing way for Warsh by Ben Wieder, Gavin J. Quinton

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The Justice Department has closed its criminal probe into Federal Reserve Chairman Jerome Powell, ending the inquiry into whether he misled Congress about a $2.5 billion renovation of the Fed’s headquarters—a case that had become a political sticking point for Republican Sen. Thom Tillis, who said he would block the confirmation of Trump‑favored nominee Kevin Warsh while the investigation lingered. U.S. Attorney Jeanine Pirro announced the drop‑off, noting the probe was abandoned after prosecutors found no evidence of wrongdoing, though she left open the possibility of restarting it if new facts arise. With the investigation out of the way, Warsh’s nomination can move forward; he has pledged not to be a “sock‑puppet” for the president and argues for a pro‑growth, market‑first Fed agenda that includes shrinking the central bank’s $6.6 trillion balance sheet and eliminating forward guidance. The closure also underscores ongoing tension over the Fed’s independence, as President Trump has previously pressured the bank on interest‑rate policy and attempted to fire a Fed governor, highlighting the broader political battles surrounding the nation’s most influential central bank.

Read more: https://www.latimes.com/world-nation/story/2026-04-24/justice-department-drops-criminal-probe-of-fed-chair-powell-likely-clearing-way-for-warsh

#JeromePowell #KevinWarsh #DonaldTrump #WallStreet #FederalReserve #JeaninePirro #ThomTillis

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Market Talk: ‘Quieter’ Fed under Warsh could be a ‘double-edged sword’

Fed Chair nominee Kevin Warsh's desire for less public discussion on interest rates could reduce blunders but risks misleading investors, Robert Conzo, CEO of The Wealth Alliance said. #News #Reuters #Newsfeed #federalreserve #kevinwarsh #jeromepowell #fedrates 👉 Subscribe: Keep up with the latest news from around the world: Follow Reuters on Facebook: Follow Reuters on X: Follow Reuters on…

https://fllics.com/en/video/market-talk-quieter-fed-under-warsh-could-be-a-double-edged-sword/

The US Department of Justice has dropped its criminal investigation into Federal Reserve Chair Jerome Powell, paving the way for Kevin Warsh's potential confirmation as his replacement. The move has sparked concerns over the central bank's independence from the White House 📊💼.
#DiscoverHeadlines #FederalReserve #JeromePowell...

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https://www.discoverheadlines.com/2026/04/us-department-of-justice-drops.html

Justice Department to close investigation into Fed Chair Powell

The Justice Department is closing its investigation into Federal Reserve Chair Jerome Powell, US Attorney Jeanine Pirro said, removing an obstacle to the confirmation of Kevin Warsh, President Donald Trump's pick to lead the central bank. #trump #jeromepowell #federalreserve #kevinwarsh #unitedstates #News #Reuters #Newsfeed Read the story here: 👉 Subscribe: Keep up with the latest news from around the…

https://fllics.com/en/video/justice-department-to-close-investigation-into-fed-chair-powell/

US Top News and Analysis | We're raising our price target on chipmaker Arm after its blistering rally

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The CNBC Investing Club raised its price target on chip‑designer Arm Holdings to $250, up from $200, after the stock surged more than 30% since the position was opened, though the rating was downgraded to a “2” to caution investors to wait for any weakness before buying more. Jim Cramer highlighted the growing demand for CPUs—driven by AI workloads and the shift toward a more balanced CPU‑GPU mix—as a key catalyst, noting that Arm earns royalties from Arm‑based processors such as Amazon’s Graviton and Google’s Axion, which were recently confirmed by Meta’s commitment to deploy tens of millions of Graviton cores. While Arm’s upcoming earnings on May 6 are expected to be strong, Cramer warned the stock has become “parabolic” and advised discipline over chasing the rally. He also previewed a busy earnings week with roughly one‑third of the S&P 500 reporting, including major names like Apple, Amazon, Alphabet, Meta, Microsoft, and others, and mentioned the Federal Reserve’s April policy meeting as the last under Chairman Jerome Powell.

Read more: https://www.cnbc.com/2026/04/24/were-raising-our-price-target-on-chipmaker-arm-after-its-blistering-rally-.html

#ArmHoldings #CNBC #JimCramer #Nvidia #FederalReserve #JeromePowell

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US Top News and Analysis | Analysis: The threat to the Fed's independence isn't over

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The article explains that while a Justice Department probe into alleged cost overruns at Federal Reserve renovation projects has been dropped, the threat to the Fed’s independence remains. U.S. Attorney Jeanine Pirro said the investigation could be reopened if new evidence emerges, leaving the Fed wary of possible future harassment. The decision clears a path for President Trump‑nominated chair Kevin Warsh, but Republican Sen. Thom Tillis still blocks his confirmation until the probe is fully resolved. Trump continues to pressure the Fed, repeatedly demanding lower interest rates and even suggesting he might fire current Chair Jerome Powell despite Warsh’s pledge to preserve monetary‑policy independence. The ongoing political pressure underscores that the Fed’s autonomy is still at risk.

Read more: https://www.cnbc.com/2026/04/24/fed-kevin-warsh-jerome-powell.html

#JeaninePirro #JeromePowell #DonaldTrump #KevinWarsh #FederalReserve #ThomTillis #LevMenand #ScottAlvarez

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The New Republic | Elizabeth Warren Warns Trump’s Plot to Take Over Fed Isn’t Finished by Malcolm Ferguson

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Senator Elizabeth Warren warned that the Justice Department’s decision to drop its investigation of Federal Reserve Chair Jerome Powell is not a triumph for the Trump administration but a tactical maneuver to clear the way for Trump’s preferred successor, former Fed Governor Kevin Warsh. Warren argued the move is meant to “clear the path” for Senate Republicans to install Warsh—whom she called a “sock‑puppet”—and noted that Republican Senator Thom Tillis has already refused to confirm Warsh until the legal matter is resolved. She criticized the DOJ for threatening to revive a “bogus” probe of Powell while abandoning a baseless case against a Fed governor, and urged the Senate to reject Warsh’s nomination, saying any belief that Trump’s scheme to control the Fed is over is “fooling themselves.”

Read more: https://newrepublic.com/post/209491/elizabeth-warren-trump-plot-take-over-federal-reserve-not-finished

#ElizabethWarren #JeromePowell #KevinWarsh #FederalReserve #SenateRepublicans #JeffreyEpstein #ThomTillis

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US Top News and Analysis | Fed is likely to hold rates steady — here's how that impacts consumer costs

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The Federal Reserve is expected to leave its overnight rate unchanged at its April 28‑29 policy meeting—likely Jerome Powell’s final meeting as chair—after the Department of Justice dropped its criminal investigation into him, clearing the path for President Trump’s nominee, former Fed governor Kevin Warsh, to take over. Holding rates steady means that the benchmark that influences everything from mortgage and auto‑loan costs to credit‑card interest and savings yields will stay where it is: mortgage rates will continue to follow long‑term Treasury movements and remain volatile, auto‑loan borrowers are taking longer terms to keep payments manageable, credit‑card rates stay high because they track the Fed’s rate directly, and savings yields stay above inflation, a rare win for savers. While student‑loan rates are set by the 10‑year Treasury auction and are largely insulated from short‑term Fed moves, the overall environment keeps borrowing costs elevated for consumers, even as higher savings returns offset some pressure. Warsh, if confirmed, is expected to maintain the Fed’s independence despite Trump’s calls for more aggressive rate cuts.

Read more: https://www.cnbc.com/2026/04/24/fed-likely-to-hold-rates-steady-april-consumer-impact.html

#FederalReserve #JeromePowell #PresidentTrump #KevinWarsh #Senate

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