DOJ Probe Deferral Impacts Trump Fed Nominee

The US Department of Homeland Security has implemented a strict review process for hundreds of pending foreign applicants. Applicants must pay $1 million personally or $2 million with corporate sponsorship plus a 1% annual fee. Trump expects the program to generate over $100 billion for tax cuts and debt repayment. Republican Senator Tom Tillis stated he will not support the confirmation of Kevin Warsh for Fed Chair until investigations into Jerome Powell are resolved. Republican concerns grow regarding the potential for a Senate flip, which would prevent the confirmation of administration nominees. Analysts note that the lack of a Republican Senate could hinder large-scale policy changes intended to address issues with China, Venezuela, and Iran. The Senate continues to face uncertainty regarding the Trump Federal Reserve nominee. The Department of Justice has decided to defer a criminal probe into the Federal Reserve to the Fed's own Office of Inspector General. The investigation concerns cost overruns and building renovations at the central bank. This decision potentially clears a path for President Trump's nominee to take over the central bank. However, current Fed Chair Jerome Powell has pledged to remain in his position until the investigation is completed with transparency and finality. It remains uncertain if the deferred investigation will meet the required standards of transparency.