DOJ ends Jerome Powell probe, easing Senate Fed standoff

Happy Friday!! The White House posted a hilarious photo of a little boy in the Oval Office. This is exactly how I feel, kid. Oh, and happy White House Correspondents’ Association dinner weekend!

DOJ drops Jerome Powell criminal investigation

DOJ drops Jerome Powell criminal investigation

Iran war depletes U.S. weapon stockpile

Iran war depletes U.S. weapon stockpile

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Netanyahu reveals cancer diagnosis

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Trump administration drops the Jerome Powell investigation:

The Department of Justice (DOJ) announced today that it is dropping its criminal investigation into the Federal Reserve and its chair Jerome Powell.

What was the DOJ investigating?: The costly renovations for the Fed’s headquarters.

Why the DOJ was motivated to do so: An ongoing criminal investigation would continue to delay the confirmation process for Trump’s nominee to be the next Fed chair, Kevin Warsh. Closing the case could clear the way for Warsh to be confirmed by the Senate in the coming days.

Timing: Powell’s term ends on May 15. However, the Federal Reserve chair typically does not step down until a replacement is confirmed. Today’s announcement could put that timing back on track.

Is this saga over for Powell?: Well, U.S. Attorney for the District of Columbia Jeanine Pirro said in a statement that she asked the Fed inspector general to investigate Powell and the Fed renovations.

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This conflict is depleting the military’s weapon stockpile:

The military operation in Iran has burned through a significant amount of the U.S.’s weapon supply, according to The New York Times.

Specifically: “Since the Iran war began in late February, the United States has burned through around 1,100 of its long-range stealth cruise missiles built for a war with China, close to........

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