DOJ Closes Probe into Powell, Warsh Fed Chair Nominations

He added that the action concerns whether the Fed will continue to set interest rates based on evidence and economic conditions or whether monetary policy will be directed by political pressure or intimidation. Republican Senator Thom Tillis stated he would not support Kevin Warsh's nomination as Fed chair while the investigation continued, calling it a serious threat to the central bank's independence.

After the probe ended, Tillis stated that he looks forward to supporting Warsh's confirmation.

Federal prosecutors had opened the criminal investigation, threatening an indictment over testimony Powell gave to a Senate committee about renovations to Fed buildings in early January. 1 billion cost figure during a meeting with Trump.

Trump nominated Powell as Federal Reserve chair in November 2017 during his first term. Trump called Powell 'Too Late' in April last year. Trump referred to Powell as 'Numbskull', 'moron', and 'a real dummy'.

He posted on social media: 'Jerome "Too Late" Powell has done it again!!! He is TOO LATE, and actually, TOO ANGRY, TOO STUPID, & TOO POLITICAL, to have the job of Fed Chair. "He is costing our Country TRILLIONS OF DOLLARS, in addition to one of the most incompetent, or corrupt, renovations of a building(s) in the history of construction!

1 billion. 7 billion. Donald Trump is the 47th president of the US.

Last year, Trump demanded that US federal scientific and medical research funding be cut by about half. Congress passed a budget in February that delivered a slight increase in overall US federal scientific and medical research funding.

Specific Trump targets such as the Centers for Disease Control and Prevention received funding cuts in the February budget. The organization 314 Action reported that more than 700 candidates vying for local, congressional, and gubernatorial positions sought its support ahead of the 2026 midterm elections. The number of candidates seeking support from 314 Action is three times the usual number.

U.S. Senate this year compared to their last midterm against Trump in 2018. The US House of Representatives approved a three-year budget plan.

The plan paves the way for Congress to consider an additional $70 billion for immigration enforcement activities by federal agents. In global developments, Narendra Modi's Hindu nationalist government in India purged the theory of evolution from school textbooks. Reform UK attempted local government cuts targeting net zero spending in Britain.

Venezuela's Acting President Rodriguez stated that pensions will be raised to $70.