DOJ Drops Probe Into Fed Chair Powell, Easing Political Interference Concerns

The US Justice Department dropped its investigation into Federal Reserve Chairman Jerome Powell, potentially easing the political interference concerns that had stalled Kevin Warsh's Fed chair confirmation in the Senate. The probe had been seen as part of the Trump administration's broader pressure campaign against the independent central bank, raising alarm among economists and markets about the Fed's institutional autonomy. The decision may smooth Senate confirmation proceedings for Warsh, Trump's preferred successor to Powell.