Salem Radio Network News Saturday, May 9, 2026

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DOJ drops criminal probe of Fed Chair Powell

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The Justice Department has dropped its criminal investigation into Fed Chair Jerome Powell. Federal prosecutors were conducting a probe into Chairman Powell and the Fed’s extensive building renovations. President Trump, who has harshly criticized Powell for not lowering interest rates fast enough, had refused to end the criminal investigation even after a federal judge said prosecutors had produced “essentially zero evidence” to suspect Powell of a crime. The decision to end the probe will likely clear the way for Senate confirmation of Kevin Warsh to replace Powell as chair next month.
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