Fed Investigation Dropped, Warsh Confirmation Likely

0:00The Justice Department just shut down its investigation into Federal Reserve chair Jerome Powell over those big building renovations at the Fed. This clears a huge hurdle for confirming his successor, Kevin Warsh, who President Trump nominated back in January. Earlier this week, the U.S. Attorney for D.C. announced they're handing the probe to the Fed's own Inspector General instead. Turns out, the whole thing never really took off prosecutors admitted in court they had zero evidence of any crime, and a judge tossed their subpoenas, calling the case paper thin. Senators like Tom Tillis from North Carolina had been holding up Warsh's confirmation until this wrapped up, so now a quick Senate vote looks likely. Powell's term as chair wraps on May 15th, just weeks away. Meanwhile, Warsh faced questions during his Senate hearing about interest rates. He flat out said, Trump never asked him to promise cuts, and he wouldn't do it anyway. He's all about staying independent if confirmed. With the probe off the table and Warsh pushing back on rate pressure, the Fed's next chapter

1:02could stay on track without political drama hanging over. It. Stay in form with Canada News Today, AI-powered updates.