US justice dept closes criminal investigation into Fed chief Jerome Powell, clearing hurdle for Trump nominee Kevin Warsh

The US Justice Department has closed its criminal investigation into Federal Reserve Chair Jerome Powell, a move that clears the way for the confirmation of President Trump's nominee, Kevin Warsh. The investigation focused on cost overruns associated with renovations at the Federal Reserve’s Washington headquarters. Jeanine Pirro, US Attorney, stated that the probe would be handed off to the Office of Inspector General (OIG), which has been reviewing the project, and she could restart a criminal investigation if necessary. This development is significant in light of Trump's ongoing conflict with Powell over interest rates and concerns about Federal Reserve independence.