United States Attorney for the District of Columbia
Appears in 2 stories
U.S. Attorney for the District of Columbia - Leading criminal investigation into Fed Chair Powell
On January 30, 2026, President Trump nominated former Fed Governor Kevin Warsh to succeed Jerome Powell as Fed Chair when his term expires in May. Markets reacted violently: gold, which had surged to a record $5,626 per ounce amid the constitutional crisis over Powell's criminal investigation, plunged 11% in hours as investors bet Warsh would preserve central bank independence. Silver crashed 30% in its worst day since 1980. The dollar index spiked to 97.14, recovering from multi-year lows below 96. However, by February 3-5, gold rebounded to $5,070 as investors reassessed the confirmation timeline and Powell investigation trajectory. The rally began January 26 when gold broke $5,000 for the first time, driven by the unprecedented DOJ grand jury subpoenas served January 9 over Powell's congressional testimony about a $2.5 billion headquarters renovation.
Updated Feb 5
U.S. Attorney for the District of Columbia - Facing internal White House criticism for proceeding without coordination
No president has ever criminally investigated a sitting Federal Reserve chair. When Trump's Justice Department served Jerome Powell with grand jury subpoenas on January 11, two Republican senators announced they would block all Fed nominees until the probe ends. With a 13-11 GOP majority on the Banking Committee, even one defection creates a confirmation stalemate.
Updated Jan 28
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