Federal prosecutor Jeanine Pirro plans to end her federal probe of current Federal Reserve Chair Jerome Powell, paving the way for the Senate to confirm his successor, Kevin Warsh.
Pirro, the U.S. Attorney for Washington, DC, said in a post on X on Friday that she would end the investigation over cost overruns involving the Fed’s headquarters and Powell’s Senate testimony on the matter.
The shift is expected to break a deadlock in the Senate, which is considering Warsh’s nomination to succeed Powell, whose term ends May 15.
All Democrats on the Senate Banking Committee and some crucial Republicans, including Sen. Thom Tillis, have said they oppose confirming a new pick while the investigation into Powell was underway.
“The IG has the authority to hold the Federal Reserve accountable to American taxpayers,” Pirro said. 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.”
Powell has denied the allegations and said they are a pressure tactic to force the Fed to lower interest rates. President Donald Trump has criticized Powell for failing to do so, and nominated Warsh, who is more hawkish on rate cuts.
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Tristan Navera is a senior reporter on housing policy, covering trends and solutions in the housing market from Washington, DC. He was previously a senior reporter at Bloomberg Law, and before that covered real estate for the Washington Business Journal. Earlier in his career, he spent a decade reporting on business and real estate in Dayton and Columbus, OH. A Cincinnati native, he holds a journalism degree from Ohio University.
