{"id":114131,"date":"2026-04-24T12:08:09","date_gmt":"2026-04-24T15:08:09","guid":{"rendered":"https:\/\/ubirataonline.com.br\/jeanine-pirro-drops-criminal-probe-of-jerome-powell\/"},"modified":"2026-04-24T12:08:12","modified_gmt":"2026-04-24T15:08:12","slug":"jeanine-pirro-drops-criminal-probe-of-jerome-powell","status":"publish","type":"post","link":"https:\/\/ubirataonline.com.br\/en\/jeanine-pirro-drops-criminal-probe-of-jerome-powell\/","title":{"rendered":"Jeanine Pirro drops criminal probe of Jerome Powell"},"content":{"rendered":"


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\n The Trump administration\u2019s extraordinary criminal investigation of Federal Reserve Chair Jerome Powell is over, removing significant uncertainty that had been clouding the future of the world\u2019s most important central bank.\n <\/p>\n

\n Jeanine Pirro, the US Attorney for the District of Columbia, announced on X Friday she is closing the probe<\/a>. In the investigation\u2019s place, the Fed\u2019s inspector general has agreed to scrutinize the significant cost overruns at the central bank\u2019s ongoing multibillion-dollar renovation project at its Washington, DC, headquarters<\/a>.\n <\/p>\n

\n After the inspector general completes his report, Pirro said her office will review it and could restart its criminal probe if warranted.\n <\/p>\n

\n In the meantime, the end of the investigation clears the way for Kevin Warsh, President Donald Trump\u2019s pick to succeed Powell, to get confirmed for the role. Powell\u2019s term helming the central bank is set to expire on May 15, and Warsh appeared before the Senate Banking Committee for a confirmation hearing earlier this week.\n <\/p>\n

\n However, one key senator on the committee vowed to block the vote unless the DOJ dropped the investigation into Powell.\n <\/p>\n

\n The Department of Justice launched a criminal investigation<\/a> into the Fed chair in January after Trump spent months railing against Powell for not lowering interest rates faster. Trump\u2019s complaints included accusations of impropriety and incompetence in Powell\u2019s leadership of the renovation.\n <\/p>\n

\n A federal prosecutor in Washington, DC, told a judge last month<\/a> that his office didn\u2019t have evidence of any crimes, but Pirro continued the probe and Trump said he supported the investigation.\n <\/p>\n

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\n The investigation, which Powell in January strongly rebuked as politicized, has been fraught from the start. Pirro\u2019s subpoenas took the White House by surprise<\/a> and cast a shadow over Warsh\u2019s nomination chances. A federal judge last month quashed the Justice Department\u2019s subpoenas<\/a>, a decision that Pirro said she plans to appeal.\n <\/p>\n

\n The DOJ probe stoked fears that the Trump administration was trying to chip away at the Fed\u2019s independence, which would pave the way for political interference in setting interest rates for the world\u2019s largest economy.\n <\/p>\n

\n Republican Senator Thom Tillis, who sits on the banking committee that approves Fed nominees, has been blocking a vote for Warsh because of the probe, which he described as \u201cfrivolous.\u201d Once the probe ended he said, he would vote to confirm Warsh.\n <\/p>\n

\n The move to abandon the investigation comes after weeks of private pleas from Senate Republicans<\/a> that grew increasingly public.\n <\/p>\n

\n The probe imperiled both Warsh\u2019s nomination and Powell\u2019s tenure at the Fed, throwing the future leadership of America\u2019s central bank into doubt.\n <\/p>\n

\n Powell had said that if a replacement hadn\u2019t been named by the end of his term on May 15, Powell would remain as Fed chair \u201cpro tem\u201d<\/a> in the interim.\n <\/p>\n

\n That was unsatisfactory to Trump, who has wanted to oust Powell for years. Last week, Trump threatened to fire Powell if he refused to step down at the end of his term.\n <\/p>\n

\n But that threat injected more chaos into the situation. Firing Powell would have kicked off a lengthy legal faceoff that could have prolonged the tenure of Trump\u2019s unwanted Fed chair.\n <\/p>\n

\n Dropping the probe is an abrupt left-turn for an administration that appeared to be doubling down on the investigation.\n <\/p>\n

\n On Tuesday, Trump suggested that Powell was profiting from the renovations. \u201cI can\u2019t imagine that \u2018Too Late\u2019 is taking money on construction. I can\u2019t. But it\u2019s possible,\u201d he said, using his nickname for the head of the central bank. \u201cBut we have to find out.\u201d\n <\/p>\n

\n Trump toured the renovation<\/a> with Powell last year. The project is expected to be finished by the fall of 2027, with a DC-based workforce of about 3,000 moving in through March 2028.\n <\/p>\n

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\n \"Original<\/source><\/source><\/source><\/source><\/source><\/picture>\n <\/div>\n<\/div>\n
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\n \"The<\/source><\/source><\/source><\/source><\/source><\/picture>\n <\/div>\n<\/div>\n
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\n \"President<\/source><\/source><\/source><\/source><\/source><\/picture>\n <\/div>\n<\/div>\n

\n The renovation project includes buildings that \u201cneeded a lot of work,\u201d Powell told senators last year in his semiannual testimony. The Fed\u2019s main Eccles building in particular, Powell said, hadn\u2019t had a serious renovation since it opened in the 1930s. \u201cIt was not really safe, and it was not waterproof.\u201d\n <\/p>\n

\n On its website, the Fed has posted<\/a> video of water pouring into the building\u2019s basement in 2017. And in a lengthy FAQ<\/a>, the Fed laid out many of the details for the cost overruns: Asbestos abatement, a higher-than-expected water table and the rising cost of some raw materials contributed to the spiraling cost, it explained.\n <\/p>\n

\n The construction also includes blast-resistant windows and shear walls, which are big drivers of the building\u2019s cost, according to Fed staff during Trump\u2019s tour. These upgrades are meant to abide by the Department of Homeland Security\u2019s highest level of security for federal buildings.\n <\/p>\n

\n \u201cNo one in office wants to do a major renovation of a historic building during their term,\u201d Powell told senators at the time. \u201cYou much prefer to leave that to your successors \u2014 and this is a great example why,\u201d he said, referring to the current backlash. \u201cBut we decided to take it on.\u201d\n <\/p>\n

\n This is a developing story and will be updated.<\/i>\n <\/p>\n<\/p><\/div>\n


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The Trump administration\u2019s extraordinary criminal investigation of Federal Reserve Chair Jerome Powell is over, removing significant uncertainty that had been clouding the future of the world\u2019s most important central bank. Jeanine Pirro, the US Attorney for the District of Columbia, announced on X Friday she is closing the probe. In the investigation\u2019s place, the Fed\u2019s […]<\/p>\n","protected":false},"author":1,"featured_media":114132,"comment_status":"closed","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"googlesitekit_rrm_CAow2JLhCw:productID":"","_gspb_post_css":"","maa_idioma":"","maa_pais":"","footnotes":""},"categories":[1],"tags":[6183,7677,30763,13902,30482,13462,6032],"class_list":["post-114131","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ubirata","tag-criminal","tag-drops","tag-jeanine","tag-jerome","tag-pirro","tag-powell","tag-probe"],"blocksy_meta":[],"yoast_head":"\nJeanine Pirro drops criminal probe of Jerome Powell - Ubirat\u00e3 Online Not\u00edcias - A realidade ao seu alcance!<\/title>\n<meta name=\"description\" content=\"The Trump administration\u2019s extraordinary criminal investigation of Federal Reserve Chair Jerome Powell is over, removing significant uncertainty that had\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ubirataonline.com.br\/en\/jeanine-pirro-drops-criminal-probe-of-jerome-powell\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Jeanine Pirro drops criminal probe of Jerome Powell\" \/>\n<meta property=\"og:description\" content=\"The Trump administration\u2019s extraordinary criminal investigation of Federal Reserve Chair Jerome Powell is over, removing significant uncertainty that had\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ubirataonline.com.br\/en\/jeanine-pirro-drops-criminal-probe-of-jerome-powell\/\" \/>\n<meta property=\"og:site_name\" content=\"Ubirat\u00e3 Online Not\u00edcias - 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