Justice Department admits to having no evidence of misconduct by Fed Chair Jerome Powell - Deadline - MS NOW

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Carol Leonnig, MS NOW Senior Investigative Reporter, and Michael Feinberg, former Special Agent in Charge at the FBI, join Alicia Menendez, in for Nicolle Wallace on Deadline: White House, with reaction to the news that Trump’s Justice Department admitted in a court appearance that they do not have any evidence of wrongdoing by Jerome Powell, Chair of the Federal Reserve who has received sharp criticism from Donald Trump. - Aired on 03/24/2026.

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1. Prosecutor admits government lacks evidence of misconduct by Fed chair

The admission during a closed-door hearing undercuts President Donald Trump’s claims of “criminality” in the central bank’s $2.5 billion office renovations.

Link to tweet

https://www.washingtonpost.com/national-security/2026/03/24/powell-fed-chair-subpoena-prosecutor

A top deputy to U.S. Attorney Jeanine Pirro acknowledged in a closed-door hearing this month that the Justice Department did not have evidence of wrongdoing in its criminal investigation of the Federal Reserve over the cost of its building renovations, according to a transcript of the court proceedings.

The prosecutor’s admission, which has not been previously reported, undercuts President Donald Trump’s claim that “there is criminality” in the $2.5 billion overhaul of the Fed’s headquarters overlooking the National Mall.

Attorneys for the Fed and the U.S. attorney’s office in D.C. battled over the legality of two grand jury subpoenas at the center of the investigation during a sealed hearing March 3. A transcript of the proceedings was later unsealed. Both subpoenas were quashed this month by a federal judge, who described them as an illegal effort by the Trump administration to pressure Fed Chair Jerome H. Powell to lower interest rates or resign from the independent central bank.....

Pressed by Boasberg, Massucco-LaTaif also said “we don’t know” what statements from Powell’s congressional testimony were false, adding that “there are certain areas that he addressed that caused concern,” according to the transcript....

Boasberg said in his ruling to quash the subpoenas that the U.S. attorney’s office had provided “essentially zero evidence” of a crime and had declined an offer to show him evidence in private, without attorneys for the Fed being present. “Indeed, most members of the Committee that Powell testified before — including a majority of each party’s members, as well as the Committee’s Chair — have said that they do not think he committed any crime,” the judge wrote.

Judge Boasberg was correct in dismissing this subpoena. This was a fishing expedition designed to harass Jerome Powell