Flash: Reports suggest the DOJ may drop charges against Fed Chair Powell as early as Friday; judge previously slammed the move as political harassment to pressure rate cuts

📄Full Article· Automatically extracted by trafilaturaGemini 翻譯1114 words

The battle to defend the independence of the Fed has reached its finale? According to the latest report by ABC News, the DOJ is expected to formally drop the criminal investigation into Fed Chair Jerome Powell. (Previous coverage: Trump threatens to fire Powell if he refuses to step down! Fed mouthpiece: White House and Fed may face a third legal battle) (Background: Fed Chair transition stalled? Powell may continue as interim Fed Chair as Senate confirmation for Walsh faces hurdles) The first criminal investigation into a sitting Fed Chair in the nation's history seems to be finally coming to an end. According to the latest report from ABC News, cited by the well-known financial news account @DeItaone, the DOJ is expected to drop the criminal investigation into Fed Chair Jerome Powell. *DOJ EXPECTED TO DROP CRIMINAL PROBE OF POWELL, ABC SAYS — *Walter Bloomberg (@DeItaone) April 24, 2026 Renovation cost overruns sparked the "criminal investigation" This criminal investigation, which shocked the political and economic spheres, was ostensibly triggered by a construction project dispute. The Fed headquarters building in Washington, D.C. underwent renovations, with original cost estimates around $1.9 billion, which later ballooned to approximately $2.5 billion due to rising material and labor costs. In June 2025, Powell testified before the Senate Banking Committee regarding this matter. However, Republican Representative Anna Paulina Luna subsequently filed a criminal complaint with the DOJ, alleging that Powell may have made false or misleading statements during the hearing. By November 2025, Jeanine Pirro, the U.S. Attorney for the District of Columbia appointed by Donald Trump, formally launched a criminal investigation; in January of this year, the DOJ even issued a grand jury subpoena to the Fed and threatened to bring criminal charges against Powell. "Political harassment" to force rate cuts? Judge slams lack of evidence The timing of this investigation was extremely sensitive, occurring during Donald Trump's second term. Trump had repeatedly and publicly criticized Powell, arguing that the Fed's pace of rate cuts was "not fast or deep enough," severely dragging down the U.S. economy and stock market. Powell, meanwhile, held his ground, reiterating that the Fed must remain independent from political interference and base monetary policy decisions solely on economic data. Facing the DOJ's relentless pressure, Powell issued a rare video statement on January 11 of this year to fight back, pointing out that the criminal investigation was entirely a "pretext," with the real purpose being to pressure the Fed to cut rates or force him to resign so the President could install a preferred candidate. This farce suffered a fatal legal blow this March. Federal Judge James Boasberg ruled to block the DOJ's subpoena and harshly rebuked the investigation in his ruling as "political harassment" and a "tool of pressure." The judge noted that prosecutors even admitted in court that "no evidence of a crime has been found yet," yet they continued to push forward under the guise of "investigating the $1.2 billion in cost overruns."

Data Status✓ Full text extractedRead Original (動區 BlockTempo)

🔍Historical Similar Events· Keyword + Asset Matching6 items

2026-04-22

PACE Act Pushes Fed Payment Access for Nonbanks, Crypto Firms

Similarity 120%關鍵字 fed同分類 hot

2026-04-21

Bipartisan PACE Act Introduced To Expand Crypto Firms’ Access To Fed Payment Services

Similarity 120%關鍵字 fed同分類 hot

2026-04-21

Fed Chair Powell: Crypto has integrated into the financial system! Opposes CBDC issuance, views BTC as digital gold

Similarity 120%關鍵字 fed同分類 hot

2026-04-21