The Globe and Mail reports in its Saturday, April 25, edition that the U.S. Justice Department has closed its probe into Federal Reserve Chair Jerome Powell, removing a key obstacle for Kevin Warsh's confirmation as his successor. An Associated Press dispatch to The Globe reports that U.S. Attorney Jeanine Pirro announced on X that the probe into the Fed's building renovations would be handled by the Fed's inspector-general instead. The Senate could quickly confirm Mr. Warsh, nominated by the President in January to replace Mr. Powell, whose term ends May 15. Senator Thom Tillis opposed Mr. Warsh's nomination until the investigation was resolved, blocking his confirmation. A prosecutor handling the Powell case conceded at a closed-door court hearing in March that the government hadn't found any evidence of a crime, and a judge subsequently quashed subpoenas issued to the Federal Reserve. The investigation marked a bold attempt by the Trump administration to pressure the Fed into cutting its short-term interest rate, affecting borrowing costs for mortgages and loans. Mr. Trump has repeatedly criticized Mr. Powell for not reducing the rate from about 3.6 per cent to 1 per cent, a level unsupported by any Fed official.