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Powell's Future Uncertain Amid Ongoing Criminal Investigation

3/15/2026

Summary

Story summary

Federal Reserve Chair Jerome Powell's future remains uncertain as a criminal investigation into renovations at the Fed's headquarters continues.
Powell's attorneys say he could remain on the Federal Reserve Board after May, depending on the investigation's outcome.
A federal judge quashed subpoenas from the Justice Department, an action that U.S. Attorney Jeanine Pirro plans to appeal.
The ruling delayed Senate consideration of Kevin Warsh, Trump's nominee to replace Powell.

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Story summary

Federal Reserve Chair Jerome Powell's future remains uncertain as a criminal investigation into renovations at the Fed's headquarters continues.
Powell's attorneys say he could remain on the Federal Reserve Board after May, depending on the investigation's outcome.
A federal judge quashed subpoenas from the Justice Department, an action that U.S. Attorney Jeanine Pirro plans to appeal.
The ruling delayed Senate consideration of Kevin Warsh, Trump's nominee to replace Powell.