Central BanksMediumUpdated×13•Originally published 24 April 2026•Updated 24 April 2026•

1 min read

DOJ Ends Jerome Powell Probe, Clearing Path for Kevin Warsh to Lead Fed

Key Facts

1The U.S. Department of Justice announced it would end its criminal investigation of Federal Reserve Chair Jerome Powell.

2The decision removes a major obstacle that had stalled the confirmation of Kevin Warsh as Powell's successor.

The U.S. Department of Justice has officially closed its investigation into Fed Chair Jerome Powell regarding cost overruns in central bank renovations, clearing a major hurdle for Kevin Warsh’s nomination. Warsh, known for his crypto-friendly stance, is expected to see an expedited Senate confirmation process following this legal resolution. Meanwhile, Powell is reportedly considering staying on the Board of Governors until 2026, a move that could complicate the internal leadership transition. In an unrelated but significant administrative shift, reports indicate the Trump administration plans to reinstate federal executions by firing squad. These combined developments reflect a broader push for institutional change as the new administration takes shape. Investors remain focused on how these regulatory and policy shifts will impact monetary continuity and market sentiment.

about 1 month ago

Version History

4 additional sources confirmed this story

Version 13about 1 month ago

What changed: Updated to confirm the focus on the nomination process and incorporate reports on changes to federal execution policies.

Version 12about 1 month ago

What changed: Confirmation that the DOJ is officially dropping the probe rather than just transferring it, specifically citing the building renovation costs as the focus.

Version 11about 1 month ago

What changed: Added information regarding Jerome Powell considering remaining on the Board of Governors until 2026, highlighting a departure from the historical precedent of Chairs exiting the Fed after replacement.

Version 10about 1 month ago

What changed: Added context regarding the CNBC Investment Committee's discussion on the market implications of the DOJ's decision.

Version 9about 1 month ago

What changed: Added details identifying President Donald Trump as the source of the accusations that triggered the investigation.

Version 8about 1 month ago

What changed: The story was updated to clarify that the DOJ officially transferred the investigation file to the Federal Reserve's Inspector General for internal follow-up.

Version 7about 1 month ago

What changed: Updated to confirm the official closure of the criminal investigation on Friday.

Version 6about 1 month ago

What changed: Added information regarding Kevin Warsh's reputation as a crypto-friendly candidate for the Fed chairmanship.

Version 5about 1 month ago

What changed: The story was updated to confirm the specific timing of the DOJ's decision (Friday) and reinforce the link between this resolution and the acceleration of Kevin Warsh's confirmation process.

Version 4about 1 month ago

What changed: Identified the specific nature of the probe (headquarters renovation costs), the official involved (Jeanine Pirro), and the referral to the inspector general.

Version 3about 1 month ago

What changed: Additional confirmation from CNBC corroborates previous reports regarding the DOJ closing its criminal investigation into Jerome Powell.

Version 2about 1 month ago

What changed: Updated to confirm that the DOJ decision specifically clears the procedural path for an imminent Senate vote on Kevin Warsh's nomination, per Forbes reports.

Version 1about 1 month ago

What changed: Updated to confirm the timing of the DOJ action on Friday and explicitly link it to facilitating President Trump's nomination of Kevin Warsh.