By Alex Chen | Wednesday, April 15, 2026 at 1:29 p.m. EDT
Senate Majority Leader John Thune, R-S.D., has urged the Trump administration to conclude its investigation of Federal Reserve Chair Jerome Powell, warning that the unresolved probe is complicating efforts to confirm President Donald Trump’s nominee for the Fed, Kevin Warsh.
“I think it’s in everybody’s best interest to wrap up the investigation,” Thune said. “I’ve said that before—it would be better if it winds down.”
Thune noted that ending the Justice Department’s review would clear the way for action on Warsh’s confirmation hearing, scheduled for next week.
Sen. Thom Tillis, R-N.C., has indicated he will hold Warsh’s nomination in the Senate Banking Committee until the Justice Department either ends its investigation into Powell or produces evidence of criminal wrongdoing.
“I think at some point they’re going to have to deal with the committee and they’re going to have to deal with Tillis,” Thune said.
Thune added, “A new man is nominated, very qualified. We’re excited obviously to get the opportunity to confirm him. It would be great if we could wind up prior business before that happens.”
Thune also confirmed he has communicated his views to the White House.
The Justice Department’s investigation centers on Powell’s handling of a $2.5 billion renovation of the Federal Reserve’s Washington headquarters and whether he misled Congress during testimony in June.
Prosecutors from the U.S. Attorney’s office for the District of Columbia made an unannounced visit to the Fed building on Tuesday to tour the construction site.
President Trump has repeatedly criticized Powell over the project, stating that the cost overruns raise questions about his leadership. Trump called Powell “either incompetent or crooked” and said he is “billions of dollars over budget.”
On Wednesday, Trump escalated tensions by acknowledging that the administration’s probe could delay Warsh’s nomination while increasing pressure on Powell to step aside.
Trump warned that if Powell does not leave entirely when his term as chair ends May 15, he would be removed from the Federal Reserve Board of Governors. “Then I’ll have to fire him,” Trump said.
