DOJ drops criminal probe of Fed Chair Powell, removes hurdle for Warsh confirmation
u/mike_gundy666 ·
Reddit — r/stocks
· April 24, 2026 at 15:05
· ⬆ 222 pts
· 💬 20 comments
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Summary
The post reports that the DOJ dropped its criminal investigation of Fed Chair Jerome Powell, removing a key obstacle to Kevin Warsh's Senate confirmation as his replacement.
The author's thesis is that the Trump administration recognized the probe was pointless given Powell's term was ending soon, and its resolution clears the path for a new Fed chair.
This is news-based speculation, not deep due diligence; it's a political/financial news update with no original analysis or data.
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>The Department of Justice on Friday dropped its criminal investigation of Federal Reserve Chair Jerome Powell, removing a major hurdle to the Senate confirming President Donald Trump’s nomination of Kevin Warsh to replace him.
>Jeanine Pirro, the top federal prosecutor in the District of Columbia, announced the decision to abandon the Powell probe in a post on X.
>Pirro had said on Wednesday that she was committed to continuing the probe, which had been crippled by a federal judge’s ruling quashing subpoenas her office issued to the Federal Reserve related to a multi-billion-dollar renovation of its headquarters in Washington.
>Sen. Thom Tillis, a North Carolina Republican who sits on the Senate Banking Committee, had put an effective hold on the full Senate voting on Warsh’s nomination unless the criminal investigation ended.
Looks like Trump realize how silly it was to investigate the chairman months before he was going to be done with his position anyways.
link: [https://www.cnbc.com/2026/04/24/fed-powell-doj-warsh-trump.html](https://www.cnbc.com/2026/04/24/fed-powell-doj-warsh-trump.html)