The investigation into Jerome Powell has been closed.Image: keystone
US District Attorney Jeanine Pirro announced on X that the investigation against Jerome Powell would be closed. That could pave the way for Kevin Warsh to succeed him.
April 24, 2026, 5:03 p.mApril 24, 2026, 5:18 p.m
Powell’s term only lasts until May. But he has long been a thorn in the side of US President Donald Trump. He’s wanted to get rid of him for a long time. That’s why he appointed the judiciary to attack the Fed chief in January. It was about financing the renovation of the Fed headquarters in Washington. The accusation is that the costs are excessive.
At the same time, Trump nominated Kevin Warsh as his successor. The new Fed chief must be confirmed by the Senate and because of the ongoing investigations against Powell some Republican senators refusedto accept Warsh’s nomination.
By discontinuing the proceedings, this obstacle should now be removed. District Attorney and former Fox News host Jeanine Pirro announced the hiring on X.
This morning the Inspector General for the Federal Reserve has been asked to scrutinize the building costs overruns – in the billions of dollars – that have been borne by taxpayers.
The IG has the authority to hold the Federal Reserve accountable to American taxpayers. I…
— US Attorney Pirro (@USAttyPirro) April 24, 2026
Accordingly, the Inspector General should take over the matter again. However, he had already found no wrongdoing twice. However, Pirro now emphasized that criminal investigations would be started again “if the facts justify it”.
Dispute over the key interest rate
In mid-January, Powell went public in an extremely unusual step and made the investigation against him public. He classified a threatened indictment as an attempt to influence the work of the Federal Reserve.
“The threat of impeachment is a result of the Federal Reserve setting interest rates in good faith in the public interest and not following the president’s preferences,” Powell said.
Trump has been insisting that the Fed lower the key interest rate for some time – but it has remained stable in the last two meetings. Trump attracted particular attention last year with numerous insults and threats of dismissal against Powell. (vro/sda)