Powell probe over Fed HQ renovation should continue
CNBC • • business
Key Points:
- President Donald Trump supports the ongoing criminal investigation into Federal Reserve Chairman Jerome Powell, despite Republican Senator Thom Tillis's threat to block Trump's Fed chair nominee unless the probe is dropped.
- U.S. Attorney Jeanine Pirro is leading the unprecedented investigation into Powell, with Trump urging her to "take it to the end and see," signaling his backing of the inquiry.
- Senator Tillis, a key member of the Senate Banking Committee, has vowed to oppose Kevin Warsh, Trump's pick to replace Powell, potentially causing a stalemate that could prevent Warsh's confirmation.
- Powell disclosed on January 11 that he is under criminal investigation, following months of tension with Trump over interest rate policies and accusations of incompetence or corruption related
