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

IMF World Economic Outlook Federal Reserve Board Chairman Jerome Powell leaves after the International Monetary and Financial Committee (IMFC) meeting during the World Bank/IMF spring meetings at the IMF headquarters in Washington, Friday, April 17, 2026. (AP Photo/Jose Luis Magana) (Jose Luis Magana/AP)

WASHINGTON — The Justice Department has dropped its criminal probe of Federal Reserve chair Jerome Powell, likely clearing the way for his successor’s confirmation.