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@TheBadPlace@mastodon.ozioso.online · 2d ago
Home - CBSNews.com | Why is the DOJ dropping its Jerome Powell probe? AI generated summary, Read the full article for complete information. The Justice Department has ended its criminal investigation into Federal Reserve Chair Jerome Powell, a probe that was tied to concerns about the estimated $2.5 billion cost of renovations to the Federal Reserve’s headquarters in Washington, D.C.; CBS News’ Katrina Kaufman reports on why the DOJ dropped the case. Read more: https://www.cbsnews.com/video/why-doj-dropping-jerome-powell-probe/ #JeromePowell #FederalReserve #KatrinaKaufman AI generated summary, Read the full article for complete information.
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@TheBadPlace@mastodon.ozioso.online · 2d ago
Business | Justice Department drops criminal investigation of Fed chair Powell, likely clearing way for Warsh by Ben Wieder, Gavin J. Quinton AI generated summary, Read the full article for complete information. The Justice Department has closed its criminal probe into Federal Reserve Chairman Jerome Powell, ending the inquiry into whether he misled Congress about a $2.5 billion renovation of the Fed’s headquarters—a case that had become a political sticking point for Republican Sen. Thom Tillis, who said he would block the confirmation of Trump‑favored nominee Kevin Warsh while the investigation lingered. U.S. Attorney Jeanine Pirro announced the drop‑off, noting the probe was abandoned after prosecutors found no evidence of wrongdoing, though she left open the possibility of restarting it if new facts arise. With the investigation out of the way, Warsh’s nomination can move forward; he has pledged not to be a “sock‑puppet” for the president and argues for a pro‑growth, market‑first Fed agenda that includes shrinking the central bank’s $6.6 trillion balance sheet and eliminating forward guidance. The closure also underscores ongoing tension over the Fed’s independence, as President Trump has previously pressured the bank on interest‑rate policy and attempted to fire a Fed governor, highlighting the broader political battles surrounding the nation’s most influential central bank. Read more: https://www.latimes.com/world-nation/story/2026-04-24/justice-department-drops-criminal-probe-of-fed-chair-powell-likely-clearing-way-for-warsh #JeromePowell #KevinWarsh #DonaldTrump #WallStreet #FederalReserve #JeaninePirro #ThomTillis AI generated summary, Read the full article for complete information.
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@Nonilex@masto.ai · Apr 15, 2026
In Trump tantrum of the hour news… #Trump Threatens to Fire Powell if He Does Not Resign From #Fed Although #JeromePowell’s term as the #FederalReserve chair officially ends on May 15, he can stay on as a governor until 2028 & said he would not leave until a criminal investigation was over. #law #economy #independence #RevengePolitics #AbuseOfPower #authoritarianism #USpol https://www.nytimes.com/2026/04/15/business/trump-powell-fed-fire.html?smid=nytcore-ios-share
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@Nonilex@masto.ai · Apr 15, 2026
…Both the #law & past precedent establish that #JeromePowell can serve on a temporary basis until Trump’s pick to replace him, Kevin M. Warsh, is confirmed by the #Senate…. The process to confirm Warsh has been complicated by #DOJ’s investigation into Powell & his handling of renovations at the Fed’s headquarters. #Trump claimed in a Fox Business interview that aired Wednesday that the investigation was not just about the $2.5B project but also about Powell’s “incompetence.” #economy
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@Nonilex@masto.ai · Jan 28, 2026
Meanwhile, #inflation "remains somewhat elevated," the #CentralBank said, while the job market has "shown some signs of stabilization." Though the #Fed noted that "job gains have remained low," it also removed language from its prior statement saying that downside risks to employment had risen - an indication policymakers as a group are becoming less worried about a rapid downturn in the labor market. #US #FederalReserve #FOMC #JeromePowell #Trump #InterestRates #economy
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@Nonilex@masto.ai · Jan 28, 2026
The #US #FederalReserve has held #InterestRates steady. It cited still-elevated #inflation alongside solid economic growth, & it gave little indication in its latest policy statement of when borrowing costs might fall again. "Economic activity has been expanding at a solid pace," #Fed policymakers said in the statement after voting 10-2 to hold the US #CentralBank's benchmark interest rate in the 3.50%-3.75% range following a two-day meeting. #FOMC #JeromePowell #Trump #economy
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