Criminal Inquiry into Fed Chair Powell Concluded, Clearing Path for Warsh's Confirmation
The Justice Department has ended its investigation into Jerome Powell, facilitating the Senate's confirmation process for Kevin Warsh as the next Federal Reserve chair.
On April 24, 2026, US prosecutors announced the conclusion of their criminal inquiry into Federal Reserve Chair Jerome Powell. This development is seen as a significant step in the ongoing leadership transition at the central bank.
The termination of the investigation removes a potential obstacle for Kevin Warsh, who has been nominated to succeed Powell as the head of the Federal Reserve. Warsh's confirmation by the Senate is now expected to proceed more smoothly.
This decision by the Justice Department is likely to have implications for US monetary policy leadership, as the central bank prepares for future economic challenges.