Story perspectives

DOJ Ends Powell Probe, Warsh Nomination Gains Senate Backing

4/26/2026

Summary

Story summary

Justice Department closed the criminal probe of Fed Chair Jerome Powell.
U.S. Attorney Jeanine Pirro transferred the case to the Federal Reserve inspector general.
Acting Attorney General Todd Blanche said the review will continue and could be reopened if evidence appears.
Sen. Thom Tillis pledged support for Kevin Warsh’s confirmation as Fed chair, clearing a Banking Committee vote.
Kevin Warsh, President Donald Trump’s nominee, promised regime change and interest-rate cuts.

History

Historical Context

After Lehman Brothers filed for bankruptcy on September 15 2008, Congress launched a bipartisan inquiry that led to the 2010 Dodd-Frank Act and revealed a $700 billion emergency lending program authorized in 2008. The Federal Reserve’s crisis-management role, once scrutinized alongside Treasury Secretary Henry Paulson, is echoed in the Justice Department’s closure of the probe into Chair Jerome Powell, with attorneys Jeanine Pirro and Todd Blanche commenting.

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Story summary

Justice Department closed the criminal probe of Fed Chair Jerome Powell.
U.S. Attorney Jeanine Pirro transferred the case to the Federal Reserve inspector general.
Acting Attorney General Todd Blanche said the review will continue and could be reopened if evidence appears.
Sen. Thom Tillis pledged support for Kevin Warsh’s confirmation as Fed chair, clearing a Banking Committee vote.
Kevin Warsh, President Donald Trump’s nominee, promised regime change and interest-rate cuts.

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