Biography Flash Jerome Powell Probe Dropped as Trump Eyes Fed Takeover and Rate Cut Revolution

In a stunning turn that's set to redefine Jerome Powell's Fed legacy, US Attorney Jeanine Pirro announced Friday on X that she's dropping the criminal probe into the Federal Reserve chair over massive cost overruns in the bank's Washington headquarters renovation, now ballooning to 2.5 billion dollars, according to CNN reporting. This politically charged investigation, pushed by the Trump administration amid accusations Powell lied to Congress and maybe even profited personally, as President Trump claimed Tuesday to TNND, has been handed off to the Fed's inspector general, who Powell himself tasked with extra scrutiny back in July 2025. Pirro left the door cracked, warning she'll restart if new dirt surfaces, but for now, it's game over, clearing a fast track for Trump's pick Kevin Warsh to snag confirmation and shake up monetary policy with bold rate cuts eyeing AI booms, per The Times analysis. PBS News Hour dissected the drama Friday night, noting the DOJ's cave lacked hard evidence and paves Powell's exit path as his term wraps May 15, while CNN-News18 and The Economic Times videos hammered home how this lifts a cloud over the world's top central bank just as Trump eyes radical Fed reforms. No fresh public appearances or social media pops from Powell himself in these whirlwind days, but White House press secretary Karoline Leavitt spun outside Pennsylvania Avenue Friday that the scrutiny lives on under new oversight, keeping the gossip mills churning. Business insiders buzz this saga could tarnish Powell's bio forever, spotlighting his Trump-nominated rise from 4.4 trillion dollar balance sheet to a nine trillion peak amid COVID QE, now shrinking via QT. With zero major headlines breaking in the past 24 hours, this probe closure stands as the heavyweight with lasting biographical punch, potentially shielding Powell from criminal stain while fueling Trump's Fed takeover narrative. Thanks for listening, please subscribe to never miss an update on Jerome Powell and search the term Biography Flash for more great Biographies. This has been a Quiet Please production. This content was created in partnership and with the help of Artificial Intelligence AI.