DOJ drops probe into Jerome Powell, paving the way for crypto-friendly Kevin Warsh to lead Fed
The Block
The DOJ ended its investigation into Jerome Powell, potentially securing the Senate votes needed to confirm crypto-supportive Kevin Warsh as Fed chair.Summary
The U.S. Department of Justice has closed its criminal investigation into Federal Reserve Chair Jerome Powell regarding allegations of false statements about headquarters renovations. This decision removes a significant barrier to the confirmation of Kevin Warsh, a crypto-friendly nominee for the Fed chairmanship, whose candidacy was stalled by Senator Thom Tillis's refusal to vote until the probe concluded. Experts believe Warsh's confirmation could now proceed, potentially clearing the path for the Senate Banking Committee to advance long-delayed cryptocurrency market legislation, such as the Clarity Act.
(Source：The Block)