DOJ Drops Fed Renovation Probe, Clearing Path for Warsh Vote on April 29
Jeanine Pirro dropped the criminal probe into Federal Reserve building renovation cost overruns, referring oversight to the Fed’s Office of Inspector General but warning she could reopen the case. President Trump’s nominee Kevin Warsh has a Senate Banking Committee vote scheduled for April 29 while Jerome Powell may retain his board seat through 2028 pending the IG inquiry’s outcome.
1. Partial Reversal of DOJ Probe
US District Attorney Jeanine Pirro halted her criminal investigation into the Federal Reserve’s building renovation cost overruns and transferred oversight to the Fed’s Office of Inspector General. She emphasized she could resume the case if new evidence emerges, maintaining leverage over Fed leadership decisions.
2. Jerome Powell’s Board Seat and Tenure
Jerome Powell has pledged to stay at the Fed until the inspector general completes its review, even though his term as chair ends on May 15. His seat on the Board of Governors runs through 2028, giving him continued influence if he chooses to remain beyond the chair role.
3. Kevin Warsh’s Nomination Timeline
Kevin Warsh appeared before the Senate Banking Committee this week and is slated for a confirmation vote on April 29. While GOP support is broad, Senator Thom Tillis has threatened to block the nomination until the DOJ inquiry is fully closed, creating uncertainty around the vote.