DOJ Drops Criminal Probe Into Fed Chairman Jerome Powell
U.S. Attorney for the District of Columbia Jeanine Pirro said she “will not hesitate to restart a criminal investigation should the facts warrant doing so.”
U.S. Attorney for the District of Columbia Jeanine Pirro announced on X that the DOJ dropped its criminal probe into Federal Reserve Chairman Jerome Powell.
Pirro wrote:
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 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.
Accordingly, I have directed my office to close our investigation as the IG undertakes this inquiry. Note well, however, that I will not hesitate to restart a criminal investigation should the facts warrant doing so.
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
In January, federal prosecutors opened an investigation into Powell over his plans to spend $2.5 billion on renovations to the Federal Reserve’s headquarters in DC.
President Donald Trump has been eager to replace Powell.
Trump and his allies allege mismanagement and misleading testimony before Congress.
Powell has denied accusations, accusing Trump of retaliation over monetary policies.
“This unprecedented action should be seen in the broader context of the administration’s threats and ongoing pressure,” Powell said in a video in response to the investigation. “This new threat is not about my testimony last June or about the renovation of the Federal Reserve buildings.”
The ever-wonderful Judge James Boasberg, who has one of the worst cases of Trump Derangement Syndrome, has hindered Pirro’s investigation.
Earlier this month, Boasberg maintained his position that the DOJ didn’t meet “the low bar to seek a subpoena to the Fed.”
Boasberg claimed that he saw “abundant evidence” that the administration has used the investigation to force Powell to lower interest rates or resign.
Donations tax deductible
to the full extent allowed by law.
Comments
Good.
This should clear the way for Warsh to be confirmed as Fed Chair.
Now can Jeanine Pirro please go back to Fox? With her “help” on DC second amendment cases, who needs Bloomberg?
I love Pirro
Yes, particularly since behind-the-scenes at least one of the Republican Senators said they would not vote to confirm Warsh if the criminal investigation was still underway. (et tu, Brute?) So currently the IG is doing the investigation, and if criminal activity is uncovered, the criminal investigation will start right back up again, only with this time Warsh providing records to the Administration that Powell has been stonewalling on. Win/win.
Good analysis.
Heck, I just copied it from Ship. I couldn’t remember the Senator’s name at the moment, though.
https://x.com/shipwreckedcrew/status/2047690299800260946
According to Perplexity:
“Jerome Powell’s term as Federal Reserve chair is scheduled to end on May 15, 2026. His separate term on the Federal Reserve Board runs until January 31, 2028, so he could remain at the Fed in that role even after leaving the chairmanship.”
Continuing to hold my breath.
it would be easier to show where/when the government has been efficient
with its spending …everything else is fraud to the taxpayers
if private donations are paying for the ballroom healthcare etc that is great as its not the taxpayers job
I really hate this kind of political witch hunt no matter which side is doing it.
Co-exist?
Is it a witch hunt if there is basis for the investigation?
Two billion in reasons, last I counted, and that’s with Powell protecting as many of the documents as he can.
What is Powell hiding? The documents should be visible to the President, who is the Chief Executive of the executive branch of the government. There are, after all, only three branches. The Fed cannot be a fourth branch.
Many branches. Many trees. Perplexity’s answer to my question, “Is the federal reserve part of the Executive Branch?”
“No. The Federal Reserve is an independent agency of the federal government, not part of the executive branch. Its Board of Governors is appointed by the president and confirmed by the Senate, but its monetary policy decisions do not require approval from the president or other executive-branch officials.”
The US Capitol and White House are major national symbols or our country. Not so much the Fed Reserve bldg. For Jerome Powell to spend more on a remodel of that than it would cost to construct—from scratch—either of these two national treasures demands accountability.
Fourth branch?
The Fed is an “independent entity” funded by the Federal Government.
Like ACORN, the Tides Foundation, and even the Open Society Foundations.
That’s even better than being a “branch.”
Instead of all those annoying checks and balances, there’s just checks and more checks.
The Fed is not part of any of the three branches. Technically (and only technically) it’s structured as a private company, but such as no other private company in the world. In practice it’s a government agency, it operates as a government agency, there’s nothing private about it; but on a purely formal level it’s a “company” with “shareholders” who “buy shares” and are paid “dividends”.
There was no abnormal basis for an investigation. Overrun is a normal word for any governement project and usually does not involve criminal activity, but incompetence and changing the original plans. The military does this with every new weapons system they begin. Constant changes and upgrades are usually the reasons.
Yes, but not on this scale.
If there’s such a good reason why is the prosecution being stopped?
There was no prosecution yet. There was a DOJ investigation, but Boasberg was hampering it on the grounds that it lacked authority, so now they’re giving it to the IG, who has explicitly statutory authority that Boasberg can’t question.
I hate the term swamp… A swamp is shallow body of water with a shallow body of mud and poisonous creatures that are manageable with the right tools.
The DC swamp is basically Hades.
Hey! Don’t forget the quicksand / sucking mud pits!
The U.S. Capitol—the seat of American democracy—has a replacement value starting around $2 billion. I contend that a central bank headquarters should not rival or exceed the cost of the US Capitol or the White House. Am I wrong?
Another embarrassment for Trump who never should have initiated this in the first place.
Most of us supported Trump to cut spending, keep us out of wars, fight the nuts on social issues like transing of our kids and keep the economy moving forward. He has failed on multiple fronts.
Crap like this was a waste of time and damaged the administration. The only thing worse is family enriching themselves in crypto and beyond. It was gross when Hunter “the artist” did it and it’s the same when Trump’s talent free kids do it.