Attorney Jeanine Pirro has hinted at potentially reopening a criminal investigation into Federal Reserve Chair Jerome Powell amid alleged irregularities in the Federal Reserve’s building renovations.
Pirro, the federal prosecutor for Washington, D.C., speaking on the CNN State Of The Union on Sunday, expressed her office’s intention to “continue to litigate the issue,” urging the Fed’s inspector general Michael Horowitz to conclude his separate, ongoing investigation.
“I want to see those statements, I want to see what’s there,” Pirro said.
When asked whether the probe would be dropped if the inspector general finds no wrongdoing, Pirro said, “It depends on what he finds.” She elaborated that she is awaiting the results of the inspector general’s report and would “go home” if no evidence of criminal activity was found.
Pirro said the criminal probe was halted after Judge James Boasberg, an Obama appointee, blocked document subpoenas in a March ruling, and added that she plans to challenge the decision.
Powell Stays As Probe Tensions Rise
Late April, the DOJ dropped Powell’s criminal probe, paving the way for Kevin Warsh’s appointment. However, Powell later said that he decided to stay on as Fed governor, calling the legal attacks ‘unprecedented.’ The Fed Chair said he would remain on the board until the investigation is fully resolved with transparency, reaffirming his earlier stance not to step down until the DOJ inquiry concludes.
Powell’s term as a governor runs until 2028.
This decision followed Sen. Thom Tillis‘s (RN.C.) approval for the Senate confirmation of Warsh, President Donald Trump‘s nominee for Federal Reserve chair, after being assured that the case against Powell was fully settled with no plans to reopen it unless the inspector general issues a criminal referral. Last week, even Trump said that the probe into Powell is “not dropped” and vowed to determine why a $25 million project cost billions.
Meanwhile, amid Powell’s continued presence alongside incoming chair Kevin Warsh, markets may see less of a dovish tilt than expected. The Fed held rates at 3.50%–3.75%, but a rare four-way dissent signaled deep divisions, with concerns that inflation is rising.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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