"U.S. Attorney Jeanine Pirro announced that she's closing the investigation and directing the Fed's internal watchdog to review the matter. This morning the Inspector General for the Federal Reserve has been asked to scrutinize the building costs overruns in the billions of dollars that have been borne by taxpayers."
"Warsh told lawmakers he would not be the president's sock puppet on interest rate decisions. During the hearing, Sen. Thom Tillis pledged to block any Fed nominees until the DOJ completed its probe of Powell."
"The likelihood of Warsh's confirmation stood at 85% before May 15 and 95% before June 1 as of 11 a.m. ET on Friday, according to the federally regulated prediction market Kalshi."
The DOJ has ended its investigation into the Federal Reserve concerning Jerome Powell's testimony about the $2.5 billion renovation of the Fed's headquarters. U.S. Attorney Jeanine Pirro has referred the matter to the Fed's inspector general for further review. This decision may ease the confirmation process for Kevin Warsh, nominated to succeed Powell. Warsh faced scrutiny during his Senate confirmation hearing, where he asserted independence from presidential influence on interest rate decisions. Market expectations indicate potential rate cuts starting in July.
Read at www.housingwire.com
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