The criminal investigation that has held the Federal Reserve chair nomination hostage for three months is over—sort of.
The decision could clear a major procedural hurdle for Kevin Warsh, President Donald Trump’s pick to replace Powell when his term as chair expires May 15.
Neither Tillis nor the Federal Reserve Board of Governors immediately responded to Fortune’s request for comment.
Whether Pirro’s announcement resolves the underlying standoff is a different question. It could give Tillis enough to release his hold and move Warsh out of committee. But it does not obviously deliver what Trump’s other priority: Powell’s early exit from the Fed Board of Governors, a seat he is entitled to hold until 2028.
“Note well, however, that I will not hesitate to restart a criminal investigation should the facts warrant doing so,” she wrote.
