Pirro Shuts Down Powell Probe, Fed Inspector General Takes Over

0:00It's April 24th, entertainment and celebrity news. Today starts now, AI powered and spotlight ready. I'm Cory with the story. US Attorney Jeanine Piro just shut down her probe into Federal Reserve chair, Jerome Powell, over massive building renovation costs. She announced it Friday, handing the case to the Fed's Inspector General to dig into the billions and taxpayer overruns. Piro expects a full report soon and says she'll jump back in with a criminal investigation if new facts pop up. This drop comes right as President Trump ramps up his bid to swap Powell out for Kevin Worsh when Powell's chair term wraps in May. Powell could stick around as a governor until January 20th, but Trump has been vocal about wanting him gone amid the renovation drama. Trump hammered Powell for the $2.5 billion price tag on the Fed headquarters remodel, even touring the site to call him out. Turns out, part of the blowout happened because Trump picks overruled plans, swapping glass for pricey white marble.

1:01Democrats like Senator Elizabeth Warren are crying foul, saying it's all a ploy for Trump to plan a loyalist at the Fed and mess with it's independence. Warren warns against confirming Worsh, fearing it'll let politics call the shots on interest rates. Piro's move clears some air for now, but that Inspector General report could shake things up fast. Keep an eye on how this plays into the Fed's next moves.