Justice Department drops bogus probe of Jerome Powell
Daily Kos
Last updated: April 25, 2026
The Trump administration's Justice Department has terminated a criminal investigation into Federal Reserve Chair Jerome Powell. This probe was initiated and pursued based on allegations of improper actions related to Federal Reserve policies. The decision to drop the investigation was announced on a Friday.
- The Justice Department cited findings from an inspector general's report as the primary reason for discontinuing the criminal probe. This report concluded that there was insufficient evidence to support the allegations against Powell. The investigation was characterized by critics as politically motivated.
- The probe reportedly focused on potential conflicts of interest or undue influence Powell might have exerted. The Justice Department’s decision suggests that a thorough review found no grounds for criminal charges. This outcome averts potential political fallout for the Federal Reserve and its leadership.
- The Federal Reserve operates independently of direct political control, and investigations into its chair can have significant implications for market confidence and monetary policy. The termination of this investigation aims to restore stability and reinforce the Fed's operational autonomy.
