Senator Thom Tillis has announced his vote to confirm Kevin Warsh as the next Federal Reserve Chair, following assurances from the Justice Department that its investigation into Fed Chair Jerome Powell has concluded. Tillis had previously blocked Warsh’s nomination in protest of this investigation, which centered on a renovation project at the Fed’s headquarters. With the Justice Department stepping back and allowing the Fed’s Inspector General to conduct its review, the path is now clear for Warsh’s confirmation. This development allows Warsh to proceed to a full Senate vote as planned, potentially by the end of the week.
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Following the Justice Department’s announcement to drop its criminal probe into Fed Chair Jerome Powell, Republicans on the Senate Banking Committee have scheduled a vote to advance President Trump’s nominee, Kevin Warsh. This move has drawn sharp criticism from Democrats like Senator Elizabeth Warren, who argues the DOJ’s decision was timed to facilitate Warsh’s confirmation and suggests Warsh would be beholden to President Trump. Critics also point to Warsh’s refusal to acknowledge the 2020 election results and his opaque financial disclosures as reasons to doubt his independence.
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The Justice Department has dropped its criminal investigation into Federal Reserve Chair Jerome Powell and the central bank regarding a renovation project. This decision follows the Inspector General’s ongoing review of the building’s cost overruns, a process initiated by Powell himself amid pressure from President Trump. While the criminal probe is closed, the Inspector General’s inquiry continues to scrutinize the substantial cost increases, and the Justice Department has stated it may reopen the investigation if warranted by new facts.
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Following Federal Reserve Chair Jerome Powell’s request for an inspector general review of a renovation project criticized by then-President Trump, Inspector General Pirro initially pursued a criminal probe. However, Pirro has now announced the closure of her investigation, stating she has directed her office to do so as the IG undertakes its inquiry. Pirro indicated she will not hesitate to restart a criminal investigation if the facts warrant it, while the IG spokesperson confirmed the ongoing evaluation of the building renovation project and its subsequent public and congressional release.
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A recent Federal Reserve study indicates that tariffs implemented by the Trump administration are solely responsible for the observed increase in consumer and household goods prices. The study found these tariffs have raised core goods prices by 3.1 percent, with retailers passing the costs along the supply chain. This suggests that without these tariffs, price increases would have fallen below pre-pandemic trends, contradicting claims that foreign entities would bear the burden of these duties.
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France has completed a long-term plan to bring its gold reserves home by selling its remaining holdings from the U.S. Federal Reserve. This strategic move involved upgrading 129 tonnes of gold between July 2025 and January 2026, replacing older bars with new, internationally compliant ones stored in Paris. The Banque de France generated nearly 13 billion euros from this operation, highlighting its practical financial decision to enhance the safety and tradability of its gold reserves while capitalizing on favorable market conditions. This upgrade aligns with France’s ongoing efforts since 2005 to modernize its gold stock and ensure it meets contemporary global standards.
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Despite subpoenas related to a costly renovation of the Federal Reserve’s headquarters, federal prosecutors acknowledged in a court hearing that they currently lacked evidence of any crimes committed by Federal Reserve Chair Jerome Powell. The investigation, which began following political pressure from the President, was questioned by a judge who found the justifications for the probe to be “thin and unsubstantiated.” Ultimately, the judge quashed the subpoenas, stating the government had presented “essentially zero evidence to suspect Chair Powell of a crime.”
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A newly revealed email directly contradicts Donald Trump’s assertion that he expelled Jeffrey Epstein from Mar-a-Lago in 2004. This document, which was allegedly unredacted for Congress but not the public, disputes Trump’s account of their relationship. The withholding of this information by the Department of Justice, according to claims, violates transparency laws and raises questions about potential cover-ups regarding Trump’s involvement with Epstein.
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The Federal Reserve recently held its ground, keeping interest rates unchanged while also forecasting higher inflation. This decision has stirred quite a bit of commentary, particularly around the phrasing of headlines that suggest the Fed is acting “despite” inflation. Many observers point out that this framing misses the crucial connection: it’s precisely *because* of higher inflation that the Fed *must* keep rates steady, or even consider raising them. Lowering rates, in this context, would only fuel the inflationary fire further.
It’s almost as if the public is peering into the Fed’s operations expecting precise control, like pilots in a cockpit. However, the reality feels more like individuals adjusting a thermostat that isn’t actually connected to the heating system.… Continue reading
Stocks experienced a significant sell-off following concerning U.S. economic data and statements from Federal Reserve Chair Jerome Powell, which amplified fears of persistent inflation. The producer price index exceeded expectations, indicating underlying inflationary pressures exacerbated by rising oil prices due to international conflict. Despite the Federal Reserve maintaining current interest rates, the outlook suggests limited progress on inflation and a challenging environment for monetary policy.
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John Q. Hosedrinker 
Matt Underwood