DOJ Ends Jerome Powell Criminal Probe, Clearing Path for Fed Nominee

Jerome Powell criminal probe Closed by DOJ

The U.S. Attorney for the District of Columbia, Jeanine Pirro, announced on X that the Department of Justice is terminating the investigation that targeted the Federal Reserve chair. “I have directed my office to close our investigation as the IG undertakes this inquiry,” Pirro wrote, adding that the Inspector General will now examine the building‑cost overruns that have burdened taxpayers, estimated at ↓ $2.5B. The move removes the last legislative roadblock for President Trump’s nominee, whose confirmation had been stalled by Sen. Thom Tillis (R‑N.C.) pending resolution of the probe.

“The IG has the authority to hold the Federal Reserve accountable,” Pirro said, expecting a comprehensive report soon.

The probe, first disclosed in January, centered on whether Powell misled Congress about the renovation finances. Reuters reported that the inquiry also explored potential fraud allegations.

Political ramifications for Fed nomination

With the investigation closed, Senate leaders are expected to move forward with a vote, though Tillis may still seek assurances on the IG’s findings. Bloomberg notes that the decision could accelerate the Fed’s policy agenda ahead of the upcoming economic outlook.

Words by: Tariq Al-Fayed

Middle East Geopolitical Strategist