Story perspectives

DOJ Ends $2.5B Powell Renovation Probe; Trump Pushes Replacement

4/25/2026

Summary

Story summary

U.S. Attorney Jeanine Pirro announced the Justice Department is closing its criminal probe of Fed Chair Jerome Powell’s $2.5 billion renovation.
Judge James Boasberg dismissed the subpoenas, saying prosecutors offered essentially zero evidence of criminal conduct.
Sen. Thom Tillis blocked Kevin Warsh’s nomination to succeed Powell, citing the investigation as his reason.
President Donald Trump said he is eager to replace Powell, accusing him of mismanagement and misleading testimony.

History

Historical Context

After the June 1972 Watergate break-in, the Senate’s 1973 Watergate Committee uncovered a cover-up that led the House Judiciary Committee to launch a formal impeachment inquiry on February 6 1974. The committee released 35,000 pages of transcripts and cited 20 criminal counts against Nixon’s aides; the July 24 1974 Supreme Court ruling forced tape release, prompting Nixon’s August 9 resignation and Gerald Ford’s succession.

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Story summary

U.S. Attorney Jeanine Pirro announced the Justice Department is closing its criminal probe of Fed Chair Jerome Powell’s $2.5 billion renovation.
Judge James Boasberg dismissed the subpoenas, saying prosecutors offered essentially zero evidence of criminal conduct.
Sen. Thom Tillis blocked Kevin Warsh’s nomination to succeed Powell, citing the investigation as his reason.
President Donald Trump said he is eager to replace Powell, accusing him of mismanagement and misleading testimony.

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