President Trump told reporters this weekend (prior to the White House Correspondents’ Dinner) that the investigation into Fed Chair Jay Powell is “not dropped,” despite U.S. Attorney Jeanine Pirro announcing that it was closed.
[NOTE: Last month, Pirro’s office reportedly conceded to a federal judge that her office found no evidence of a crime during its investigation of the Fed’s $2.5 billion Federal Bank headquarters renovation project.]
Trump said he wants to find out more about a building he claimed he could have completed for less — “I would have done that building for $25 million,” Trump said. He also suggested that Kevin Warsh, his nominee to replace Powell, might be the one to “figure out why that building which should have cost $25 million is costing billions of dollars.”
[NOTE: Trump continues to claim the new building will cost $3.1 billion, while Powell said the President is misleadingly including the cost of renovating a separate Fed building — the Martin building — that was finished five years ago.]
U.S. Senator Elizabeth Warren (D-MA) responded to Trump’s “not dropped” comments by writing: “Any Republican Senator who believes Donald Trump’s scheme to take over the Fed is over is fooling themselves.”
Any Republican Senator who believes Donald Trump’s scheme to take over the Fed is over is fooling themselves. https://t.co/CuwPIftdhK
— Elizabeth Warren (@SenWarren) April 25, 2026
U.S. Senator Thom Tillis (R-NC), who said he wouldn’t approve of the confirmation of Trump’s new Fed Chair pick Warsh until the Powell case was closed, replied to Warren: “For all of @SenWarren’s tough talk about protecting institutions, very few politicians have done more to undermine the institutions of all three branches. Launching baseless attacks to undermine the independence of a highly qualified Fed Chair nominee, pushing efforts to pack the Supreme Court, and supporting nuking the filibuster (but of course, only when her own party is in power).”
For all of @SenWarren’s tough talk about protecting institutions, very few politicians have done more to undermine the institutions of all three branches. Launching baseless attacks to undermine the independence of a highly qualified Fed Chair nominee, pushing efforts to pack the… https://t.co/sEaDTfViSl
— Senator Thom Tillis (@SenThomTillis) April 27, 2026
[NOTE: At Warsh’s hearing last week, Warren said: “President Trump has made clear that he does not want an independent Fed. He has said, ‘anybody that disagrees with me will never be Fed Chairman.’ And he’s made sure that you (she pointed to Warsh) are his sock puppet.”]
ELIZABETH WARREN: Did Donald Trump lose the 2020 election?
KEVIN WARSH: Uhm, we try to keep politics if I’m confirmed out of the Federal Reserve
WARREN: I’m just asking a factual question
WARSH: I believe this body certified the election
WARREN: That’s not the question I’m… pic.twitter.com/AZvmIqZXhN
— Aaron Rupar (@atrupar) April 21, 2026
With Pirro’s office closing its investigation, Tillis withdrew his objection to confirming Warsh, which he had resisted due to what he called “a bogus investigation that started this whole drama.”