DOJ Drops Powell Probe, Paves Way for Warsh as Fed Chair

The Department of Justice dropped its criminal investigation of Federal Reserve Chair Jerome Powell, clearing the path for President Trump’s nomination of Kevin Warsh to replace him; Sen. Thom Tillis had insisted the probe be dropped before any confirmation. The Fed inspector general will investigate cost overruns in the headquarters renovation, with Pirro signaling she could restart the case if warranted. The White House urged swift Senate confirmation of Warsh.