- Federal prosecutors have dropped a criminal case against Federal Reserve chairman Jerome Powell, an action that appears to clear the path for the president's nominee to lead the powerful economic institution.
- The president had previously pushed for a criminal probe into $3 billion renovations at the central bank and demanded Powell's removal due to his refusal to lower interest rates.
- Republican Sen. Thom Tillis had conditioned his support for the president's nominee, Kevin Warsh, on the Justice Department abandoning the investigation into Powell.
- U.S. Attorney Jeanine Pirro announced the closure of the criminal investigation, stating that the Federal Reserve's Inspector General would instead investigate the building cost overruns.
- During his confirmation hearing, Warsh denied that his nomination was tied to the president's demands for interest rate cuts, while Senator Elizabeth Warren warned against the politicization of the Fed.
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