APTOPIX Senate Federal Reserve

Jose Luis Magana - FR159526 AP
Apr 21, 2026
Apr 21, 2026 Updated Apr 29, 2026

Kevin Warsh is sworn in during his nomination hearing to be a member and chairman of the Federal Reserve Board of Governors before the Senate Banking, Housing and Urban Affairs Committee on Capitol Hill, in Washington Tuesday, April 21, 2026.
Jose Luis Magana - FR159526 AP

As featured on

Justice Department drops criminal probe of Fed chair Powell, likely clearing the way for Warsh

WASHINGTON (AP) — The Justice Department has ended its investigation into Federal Reserve ch…

Powell plans to remain on Fed board, cites legal actions by Trump administration

Jerome Powell plans to remain on the board of the Federal Reserve after his term as chair ends next month “for an undetermined period of time,” saying the “unprecedented” legal attacks by the Trump administration have put the independence of the nation’s central bank at risk. The Fed Wednesday left its benchmark interest rate unchanged for the third straight meeting but signaled it could still cut rates in the coming months, moves that attracted the most dissents since October 1992. The Senate Banking Committee earlier approved Powell's successor as chair, Trump appointee Kevin Warsh, on a party-line vote.