Prosecutors from the office of Jeannine Pirro, the U.S. attorney for Washington, D.C., conducted an unexpected visit to the Federal Reserve’s headquarters on Tuesday, a move that has drawn significant media attention and raised questions about ongoing investigations involving the central bank and its chairman, Jerome Powell.
According to communications seen by NBC News, three officials from Pirro’s office arrived at the construction site of the Federal Reserve in downtown Washington, expressing a desire for a “tour” and stating they wanted to “check on progress” regarding the renovations of the Fed’s historic buildings. However, their attempt to gain access to the site was met with rejection, as confirmed by Robert Hur, the central bank’s outside counsel.
This surprise visit aligns with a spiraling investigation concerning Powell’s congressional testimony relating to the Fed’s renovation project, which has been losing momentum in recent months. The inquiry came into public light earlier this year when Powell announced the issuance of subpoenas related to the project.
In a video statement, Powell remarked, “The threat of criminal charges is a consequence of the Federal Reserve setting interest rates based on our best assessment of what will serve the public, rather than following the preferences of the president.” In a significant ruling on March 13, U.S. District Court Judge James Boasberg blocked the subpoenas asserted by Pirro’s office, concluding that there was “essentially zero evidence” suggesting Powell had committed any crimes.
On the day of the visit, Hur referenced Boasberg’s ruling in his correspondence with Pirro’s office, emphasizing that the probe’s interest in the Federal Reserve’s renovation project appeared to be unfounded. He suggested that if Pirro’s team wished to contest this ruling, they should pursue legal channels rather than attempt to sidestep it through unannounced site visits.
In a statement issued on Tuesday evening, Pirro defended the oversight efforts of her investigators, arguing that any construction project with significant budget overruns, reportedly up to 80% over initial estimates, warranted closer scrutiny. “And these people are in charge of monetary policy in the United States?” she questioned, casting doubt on the oversight of the renovation process.
Compounding the situation, the visit has complicated the Senate confirmation proceedings for Kevin Warsh, President Donald Trump’s nominee to succeed Powell. Senator Thom Tillis of North Carolina has publicly stated he will not support Warsh’s advancement through the Senate Banking Committee until the Justice Department resolves its ongoing investigation into Powell.
Interestingly, Pirro’s visit coincided with the Senate Banking Committee’s announcement regarding the date for Warsh’s confirmation hearing, set for the following Tuesday. In an interview, Senator Tim Scott, the committee chair, remained optimistic about a quick resolution to the investigation, asserting that “evidence points in the direction of having this wrapped up in the next few weeks.”
Despite this assertion of impending closure, the confirmation vote for Warsh remains stalled. Tillis expressed frustration over the investigation, suggesting it was politically motivated and aimed at garnering favor from the White House. He reiterated his position that the investigation should conclude before any confirmation vote takes place, emphasizing that there is insufficient evidence to continue the probe into Powell.
In a lighthearted yet pointed critique of the situation, Tillis took to social media to share an image of the Three Stooges, captioning it, “The U.S. Attorney’s Office for D.C. at the crime scene,” underscoring the absurdity he perceives in the current affairs surrounding the Federal Reserve and its leadership.
