Justice Department Ends Criminal Investigation into Fed Chair Jerome Powell, Clearing Way for Successor

The US Justice Department has dropped its criminal investigation into Federal Reserve Chair Jerome Powell, a development that is expected to smooth the confirmation process for his successor, Kevin Warsh. The announcement, made on Friday, marks the conclusion of a probe that had cast a shadow over Powell's tenure and raised questions about the central bank's independence. With the investigation now closed, attention turns to Warsh, whose nomination is likely to advance without the distraction of legal uncertainty. The decision underscores the department's assessment that no further action is warranted, allowing the Fed to refocus on its monetary policy objectives.