Story perspectives

DOJ Ends Powell Probe, Paving Way for Warsh Confirmation

4/25/2026

Summary

DOJ Ends Probe

DOJ ended its probe of Fed Chair Jerome Powell on April 24, 2026.
U.S. Attorney Jeanine Pirro closed the case, tasked the Federal Reserve (Fed) Inspector General with reviewing the $2.46 billion renovation over budget, and said she will restart a criminal investigation if facts later warrant it.
Closure clears obstacle that led Senator Thom Tillis to block the Banking Committee vote, allowing Kevin Warsh to be confirmed before Powell’s term ends May 15, 2026.

Summary

Warsh Calls Hawkish

Bitcoin has ranged from $70,000 to $92,000 while the Federal Reserve (Fed) keeps its rate at 3.5%–3.75% after the DOJ closed the Powell probe.
Warsh called the stance more hawkish than Powell’s, warned the rate response was the biggest policy error in 40-50 years, and said rates will stay restrictive.
Analysts say a restrictive stance could delay Bitcoin’s liquidity boost, and they note Warsh’s May 15 confirmation may tighten policy through 2027.

History

Historical Context

Following the 2008 crisis, Congress enacted Dodd-Frank in 2010, adding GAO audits and a new supervisory office to tighten Federal Reserve oversight and creating the Consumer Financial Protection Bureau. That accountability framework now guides the DOJ’s April 24 2026 closure of the Powell probe, tasking the Fed Inspector General with reviewing a $2.46 billion renovation and prompting Senate Banking Committee leader Thom Tillis to block Kevin Warsh’s confirmation.

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DOJ Ends Probe

DOJ ended its probe of Fed Chair Jerome Powell on April 24, 2026.
U.S. Attorney Jeanine Pirro closed the case, tasked the Federal Reserve (Fed) Inspector General with reviewing the $2.46 billion renovation over budget, and said she will restart a criminal investigation if facts later warrant it.
Closure clears obstacle that led Senator Thom Tillis to block the Banking Committee vote, allowing Kevin Warsh to be confirmed before Powell’s term ends May 15, 2026.

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