Justice Department drops investigation, clearing Kevin Warsh’s path to Fed chair

32 articles · Updated · The New York Times · Apr 24

The Justice Department ended its criminal probe into the Federal Reserve, removing a major obstacle to Kevin Warsh’s Senate confirmation as chair.
Warsh, who criticizes the Fed’s $6 trillion balance sheet, plans to shrink its market footprint and coordinate more closely with the Treasury Department.
The probe’s closure follows earlier investigations into Jerome Powell and political pressure from President Trump, but Warsh still faces concerns over his independence and potential susceptibility to White House influence.

Can nominee Kevin Warsh deliver his promised 'regime change' while still protecting the central bank’s long-term independence?

Will the new probe into the Fed's $600 million overspend result in any real accountability for taxpayers?

How will markets react to a Fed chair planning to lower rates while shrinking a $6.7 trillion balance sheet?

What does this failed probe signal about the power balance between the presidency and independent government agencies?

What does Powell's award for courage reveal about the pressures facing modern central bankers worldwide?

Is the long-held ideal of central bank independence still achievable in the current political environment?