{"id":8615,"date":"2026-04-24T14:59:30","date_gmt":"2026-04-24T14:59:30","guid":{"rendered":"https:\/\/friscotimes.org\/?p=8615"},"modified":"2026-04-25T07:14:03","modified_gmt":"2026-04-25T07:14:03","slug":"pirro-drops-powell-probe-but-vows-to-restart-probe-should-the-facts-warrant-doing-so","status":"publish","type":"post","link":"https:\/\/friscotimes.org\/?p=8615","title":{"rendered":"Pirro drops Powell probe but vows to restart probe \u2018should the facts warrant doing so\u2019"},"content":{"rendered":"\n

The criminal investigation that has held the Federal Reserve chair nomination hostage for three months is over\u2014sort of.<\/p>\n

\n

U.S. Attorney for the District of Columbia Jeanine Pirro announced Friday that her office is closing its probe into Fed Chair Jerome Powell and the central bank\u2019s Washington headquarters renovation, punting the matter to the central bank\u2019s inspector general.<\/p>\n

\u201cThis morning the Inspector General for the Federal Reserve has been asked to scrutinize the building costs overruns\u2014in the billions of dollars\u2014that have been borne by taxpayers,\u201d Pirro wrote on X<\/a>. \u201cThe IG has the authority to hold the Federal Reserve accountable to American taxpayers.\u201d<\/p>\n

The decision could clear a major procedural hurdle for Kevin Warsh, President Donald Trump\u2019s pick to replace Powell when his term as chair expires May 15.<\/p>\n

Sen. Thom Tillis, the North Carolina Republican who sits on the Senate Banking Committee, has vowed to block Warsh\u2019s confirmation as long as the Department of Justice probe remained open, calling the investigation \u201cweak\u201d and \u201cfrivolous\u201d and framing it as an assault on Fed independence. Republicans hold a 12\u201310 edge on the committee, which means Tillis\u2019s single vote is enough to create an 11\u201311 deadlock and keep the nomination frozen.<\/p>\n

Neither Tillis nor the Federal Reserve Board of Governors immediately responded to Fortune\u2019<\/em>s request for comment.<\/p>\n

Pirro\u2019s reversal is a surprise, and a sharp pivot. As recently as Wednesday, she told reporters<\/a> she would \u201cnot back off,\u201d and was preparing to appeal a ruling that quashed two of her subpoenas to the Fed.\u00a0<\/p>\n

The probe centered on cost overruns for the renovation of two historic Fed buildings, which ballooned from $1.9 billion in 2023 to $2.5 billion in 2025. Powell, for his part, has said the investigation is a pressure tactic designed to force the Fed to cut interest rates faster than it believes is warranted.<\/p>\n

Whether Pirro\u2019s announcement resolves the underlying standoff is a different question. It could give Tillis enough reassurance to release his hold and move Warsh out of committee. But it does not obviously deliver Trump\u2019s other priority: Powell\u2019s early exit from the Fed Board of Governors, a seat he is entitled to hold until 2028.<\/p>\n

Powell has said that he won\u2019t leave until the probe is \u201cwell and truly over,\u201d a door which Pirro left conspicuously open.\u00a0<\/p>\n

\u201cNote well, however, that I will not hesitate to restart a criminal investigation should the facts warrant doing so,\u201d she wrote.\u00a0<\/p>\n<\/div>\n\n","protected":false},"excerpt":{"rendered":"

The criminal investigation that has held the Federal Reserve chair nomination hostage for three months is over\u2014sort of. U.S. Attorney for the District of Columbia Jeanine Pirro announced Friday that…<\/p>\n","protected":false},"author":48,"featured_media":8616,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false},"version":2}},"categories":[6],"tags":[946,844,9272,1133,6592,9273,162,4834],"jetpack_publicize_connections":[],"yoast_head":"\nPirro drops Powell probe but vows to restart probe \u2018should the facts warrant doing so\u2019 - Frisco Times<\/title>\n<meta name=\"description\" content=\"It\u2019s unclear whether or not Powell will choose to stay on the board.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/friscotimes.org\/?p=8615\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pirro drops Powell probe but vows to restart probe \u2018should the facts warrant doing so\u2019 - 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