The heat on Jerome Powell isn’t off as US Attorney Jeanine Pirro said Sunday she could restart a criminal probe into the Federal Reserve Chair depending on what an inspector general finds about Fed building renovations — just days after she paused the investigation.
“I want to see what’s there. If there’s something there, great. And if there isn’t, I’ll go home,” Pirro told CNN’s Jake Tapper on _State of the Union_.
The threat comes as Kevin Warsh, Powell’s likely replacement, cleared the Senate Banking Committee.
Powell’s term as chair ends May 15, but he’s vowed to stay on as governor until the criminal probe concludes.
The Justice Department first opened the case in January.
Powell has been a frequent Trump target for refusing to slash interest rates.
Trump blasted him April 29 on Truth Social: “Jerome ‘Too Late’ Powell wants to stay at the Fed because he can’t get a job anywhere else — Nobody wants him.”
GOP Sen. Thom Tillis delayed Warsh’s committee vote for months, calling the Powell probe “politically-motivated” and a threat to Fed independence.
“At the end of the day, no crime was committed, and the prosecutors I spoke with all agree,” Tillis said Sunday. “That’s what I was fighting against, not any single prosecution, but a process that would undermine the independence of the Fed.”
Tillis backed ending the investigation and says he thinks Warsh will “maintain some independence from the Trump administration.”
Pirro suspended her probe last week, saying the Fed’s Inspector General will now investigate Powell. But she’s not walking away: “We will not hesitate to restart a criminal investigation should the facts warrant doing so.”
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Her office also plans to appeal a judge’s decision that quashed her subpoenas, calling it “extremely important for us as prosecutors, the precedent that it sets to prevent us from going into a grand jury.”
Powell told senators last year the Fed doesn’t “take into consideration political factors” on rates. Now, with Warsh awaiting full Senate confirmation and Trump escalating attacks, the central bank’s independence is back in the crosshairs. [Adapted CNN report]
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