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Senate Panel Advances Warsh Nomination as Powell Probe Ends

Senate Panel Advances Warsh Nomination as Powell Probe Ends

A Senate committee has scheduled a vote to advance Kevin Warsh's nomination to lead the Federal Reserve, following the closure of a criminal investigation into current Fed Chair Jerome H. Powell. U.S. Attorney Jeanine Pirro announced the end of the probe, which had been a significant barrier to Warsh's confirmation. The investigation focused on the Fed's $2.5 billion headquarters renovation. Although the inquiry could resume if new evidence emerges, its closure has cleared a path for Warsh's nomination. The Senate Banking Committee, led by Republicans, plans to vote on April 29. The committee holds a narrow 13-11 majority, making any defection critical. Sen. Thom Tillis, who had previously blocked Warsh's nomination, has not yet indicated his current stance. Democrats, led by Sen. Elizabeth Warren, remain skeptical, criticizing the administration's handling of the Fed's independence and the ongoing investigation into Fed governor Lisa Cook.
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How the DOJ went from investigating Powell to dropping the case

How the DOJ went from investigating Powell to dropping the case

April 24 (Reuters) - The Federal Reserve's years-long renovation of two historic buildings along the National Mall to be used as part of its headquarters in Washington exploded into political controversy about a year ago, with a New York Post report on the project's "lavish" features and nearly $2.5
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Fed Chair Nominee Kevin Warsh Advocates for Reducing Fed's Balance Sheet, Raising Concerns on Wall Street

Fed Chair Nominee Kevin Warsh Advocates for Reducing Fed's Balance Sheet, Raising Concerns on Wall Street

Fed Chair Nominee Kevin Warsh Advocates for Reducing Fed's Balance Sheet, Raising Concerns on Wall Street
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DOJ Ends Criminal Probe of Fed Chair Powell, Easing Path for Trump's Nominee Warsh

DOJ Ends Criminal Probe of Fed Chair Powell, Easing Path for Trump's Nominee Warsh

The Department of Justice has terminated its criminal investigation into Federal Reserve Chair Jerome Powell, which was centered on a multi-billion-dollar renovation project at the Fed's headquarters. This decision, announced by Jeanine Pirro, the top federal prosecutor in D.C., comes after a federal judge quashed subpoenas related to the investigation. The probe's conclusion removes a significant barrier to the Senate confirmation of Kevin Warsh, President Trump's nominee to replace Powell. The investigation had been criticized as a means to pressure Powell into aligning with Trump's interest rate policies. The Inspector General of the Federal Reserve will now conduct a review of the project's cost overruns, which had been the basis for the DOJ's investigation.
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Justice Department Ends Probe into Fed Chair Powell, Paving Way for Warsh Confirmation

Justice Department Ends Probe into Fed Chair Powell, Paving Way for Warsh Confirmation

The U.S. Justice Department has concluded its investigation into Federal Reserve Chair Jerome Powell, removing a significant barrier to the confirmation of Kevin Warsh as his successor. The investigation, which focused on the Federal Reserve's building renovations, will now be overseen by the Fed's inspector general. This development could expedite Warsh's confirmation by the Senate, as his nomination by President Trump had been stalled due to the ongoing probe. The investigation was part of several efforts by the Justice Department to scrutinize individuals perceived as adversaries of President Trump. However, the probe into Powell lacked substantial evidence, leading to its dismissal. The investigation was seen as an attempt by the Trump administration to influence the Federal Reserve's interest rate decisions, which Powell had resisted.
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Don't count on rate cuts just yet: Warsh as Fed chair may not lead to big policy changes

Don't count on rate cuts just yet: Warsh as Fed chair may not lead to big policy changes

President Donald Trump has made it clear he expects his choice for Federal Reserve chair to quickly cut interest rates once he takes office
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Federal Reserve Nominee Kevin Warsh Advocates for New Inflation Measurement Approach

Federal Reserve Nominee Kevin Warsh Advocates for New Inflation Measurement Approach

Federal Reserve Nominee Kevin Warsh Advocates for New Inflation Measurement Approach
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Justice Department drops criminal probe of Fed chair Powell, likely clearing way for Warsh

Justice Department drops criminal probe of Fed chair Powell, likely clearing way for Warsh

The Justice Department has ended its probe into Federal Reserve chair Jerome Powell, clearing a major roadblock to the confirmation of his successor, Kevin Warsh
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Justice Department Ends Probe into Federal Reserve Chair Jerome Powell

Justice Department Ends Probe into Federal Reserve Chair Jerome Powell

The Justice Department has concluded its investigation into Federal Reserve Chair Jerome Powell, removing a significant obstacle to the confirmation of Kevin Warsh as his successor. The probe, which focused on a $2.5 billion building renovation criticized by President Trump, was dropped due to a lack of evidence. This decision paves the way for a potential swift Senate confirmation of Warsh, who was nominated by President Trump. The investigation had been a point of contention, with some viewing it as an attempt to influence Federal Reserve policies.
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Warsh's quest for better inflation data is a well-worn, difficult pursuit for Fed

Warsh's quest for better inflation data is a well-worn, difficult pursuit for Fed

By Howard Schneider WASHINGTON, April 24 (Reuters) - Federal Reserve Chair nominee Kevin Warsh has called for a major rethink of how to measure inflation, but he may have less trouble finding new ideas at the central bank than in choosing from an expanding set of alternate models, measures and
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Kevin Warsh's Fed 'Regime-Change' Plan Survives Senate Hearing Scrutiny

Kevin Warsh's Fed 'Regime-Change' Plan Survives Senate Hearing Scrutiny

Kevin Warsh, nominated by President Trump to be the next chair of the Federal Reserve, faced a challenging Senate confirmation hearing. Despite tough questioning from both Democrats and Republicans, Warsh's plan for a 'regime change' at the Federal Reserve remained largely intact. His proposal includes redefining inflation and altering the Fed's operational approach. Warsh, who has been a critic of the Fed's current policies, aims to lower interest rates and overhaul the institution's practices. During the hearing, Warsh addressed concerns about his relationship with President Trump, asserting that he had not been instructed to follow any specific interest rate path. The hearing highlighted Warsh's controversial stance on the Fed's current policies and his intent to implement significant changes if confirmed.
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Kevin Warsh's Fed Chair Nomination Sparks Debate on Monetary Policy

Kevin Warsh's Fed Chair Nomination Sparks Debate on Monetary Policy

Kevin Warsh's Fed Chair Nomination Sparks Debate on Monetary Policy