The Department of Justice ended its criminal investigation into Federal Reserve Chair Jerome Powell on Friday, removing the last major obstacle to Senate confirmation of Kevin Warsh as the central bank’s next leader — a development with consequences for monetary policy and Bitcoin.

U.S. Attorney for the District of Columbia Jeanine Pirro announced the closure of the probe, which had been launched over alleged cost overruns on a $2.5 billion renovation of the Fed’s Washington headquarters. 

Pirro said she was transferring the matter to the Fed’s own inspector general, calling for “a comprehensive report in short order.” She left open the possibility of reopening…

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