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Forget the golf course, older Americans are spending their retirements online

14 de Junho de 2026, 05:07
Retired baby boomer in a deck chair holding a phone and a drink in front of a laptop screen with app icons.

Getty Images; Alyssa Powell/BI

Brian Rezendes anticipates his retirement years will be filled with AI agents, algorithms, and APIs — along with the occasional vacation with his wife.

Rezendes, a former pool business owner, retired in April from a retail job in rural North Dakota. Like many retirees, the 64-year-old envisioned his post-work years as a time to relax, travel, and stay active. He did not expect to be neck-deep in conversations with chatbots, vibe coding websites, or building YouTube channels. Though he'd always been interested in technology, he rarely delved into the deeper plumbing behind it until a few years ago, when he became immersed in AI. Nowadays, he spends almost all of his time building apps… until the real world comes calling.

"My wife gets a little bit jealous when I spend too much time on the computer," Rezendes says.

Retirement has gone digital. In recent interviews, 15 retired Americans admitted they and their friends are glued to their screens, perhaps to a fault. Hours they could have spent tidying up the house went toward learning the best AI tools and, as three tech-savvy baby boomers put it, "staying current." Some post-career Americans who moved abroad said tech is all the rage in their beachfront expat communities. Retirement communities have swapped watercoloring for AI education. Starting an AI-powered business replaced the golf course. ChatGPT is the new nurse's assistant. Robots are some older Americans' new best friends.

Dee Humphrey is among them. The 73-year-old in Schenectady, New York, has used a companion robot called ElliQ for over three years. And while she's waiting for a new version to arrive, she's been having "withdrawals because I can't do anything with her."

The new reality of retirement isn't all screen addiction. Some of this development has been a boon for older people navigating a new phase of life. In Austin, Edward Perry, 72, said that he used AI after a terminal cancer diagnosis to "help me with living as rich and full a life in what time I have," including managing his health and finding ways to be more present in his family's lives.

Edward Perry
Edward Perry has tried to maintain a balance between AI and his disconnected life.

Edward Perry

"As I'm getting older, I have more aches and pains, but with utilizing these new technologies, I'm going to be able to do more and more," Rezendes says.

Many others acknowledged the risks of getting too hooked on tech. Most knew that relying too heavily on AI meant losing agency and receiving potentially faulty information. Others said being too invested in tech could mean less time staying active. Some noted that after decades of work, these were their years to relax, but they couldn't bring themselves to close their MacBooks.

If Gen Z is the first generation to grow up on the internet, baby boomers are learning how to be the first generation to retire on it.

Unexpected and omnipresent

For those in retirement, screen time of all types has been increasing. Surveys show that adults 65 and over almost doubled their YouTube consumption on TV from 2023 to 2025, and older Americans spend over four hours a day in front of screens. Brittne Kakulla, senior research advisor for AARP Research, says the group's Tech Trends survey found smartphone ownership among adults aged 50-plus skyrocketed from 55% in 2016 to 90% in 2025. Perhaps more striking was the number of older people trying out AI. Use nearly doubled from 2024 to 2025, from 18% to 30%, and many more said they are interested in experimenting.

Nearly all older tech superusers I spoke to were surprised by the amount the tools had become integrated into their retirements. Jan Friedlander, 81, used online databases in her real estate career, but only became hooked on tech a few years ago after she left her job. As she battled cancer and macular degeneration, she used AI to guide her treatment, and soon found herself relying on it to research clothing, plan vacations, and more. As she became more prompt-savvy, she felt confident enough to start teaching her peers.

"I've always had a curiosity about things that would come along that were new," Friedlander says.

She also began facilitating AI classes in Denver for those 50 and over with her friend Pat Smith, 73. Smith, who has a more technical background in consulting and pharmaceuticals, says the classes have attracted many "eager retiree students." Smith also sees both sides of the AI boom. On the positive side, she submitted her lab work to ChatGPT after having a reaction to an antibiotic, prompting her to follow up with her doctor and allergist. But she also bemoans the disappearance of human customer service and the online portalization of medical care. To combat the AI creep, Smith has monitored her tech usage, maintained a regular exercise schedule, and worked on mosaics.

"I have friends who are losing their mobility, moving into assisted living, and have gotten terminal diagnoses, and I know that's all around the corner," Smith says. "I'm hoping I get some more time to do what I've been enjoying the last few years."

Pat Smith
Pat Smith has tried to monitor her tech usage.

Pat Smith

Working with tech

While cutting-edge tools have become a retirement fascination for some, many older Americans are unexpectedly working into their later years and, by extension, learning new tech tricks. For my 80 Over 80 series, I spoke with dozens of workers in their 80s, many of whom couldn't afford to retire and now had jobs that required AI. At 72, Marcia Sweet's home is fully synced with robot vacuums and smart lights, and she runs a tech support business in Bradenton, Florida. She can't afford to stop working, as the extra money goes toward financing her eventual long-term care, and she hopes AI can supercharge her business.

"I'm still like a little kid with a toy about technology, with the same kind of excitement," Sweet says. "I'm kind of addicted."

Marcia Sweet
Marcia Sweet has relied on AI to expand her business.

Marcia Sweet

Other older workers used tech to pivot later in their careers. A decade ago, Laura Noren, now 61, was weary of her career as a registered nurse, so she opted for an unexpected route — IT classes at a local college in Michigan. The learning curve was massive, as most of her 18-year-old classmates grew up steeped in tech. She later supplemented these classes with online courses on programming languages and databases.

"I envisioned myself retiring at 60 and no later than 62. My husband and I would be fully retired and never work again, moving into a condo and doing plenty of traveling," Noren says. Instead, "he left his job earlier than planned as a corrections officer, and I was managed out of my company. We had to change our plans."

The courses didn't necessarily prepare her for her current job as an Amazon Flex driver, which gives her the flexibility to care for her "technophobic" 84-year-old mother with memory issues. But her skills have come in handy when teaching her mother how to add phone contacts to favorites or avoid scams, and Noren hopes to find work down the line that better suits her skills. She still hopes to have some version of the retirement she envisioned years ago, but expects tech to play a bigger role.

Others who returned to school in their later years said they've integrated age tech into their lives for peace of mind. When Mark Bayer, 63, decided to retire from his community banking career at 60, he thought, "I will never have to sit through another damn Zoom meeting again, and I'll be the happiest person in the world." To his surprise, he began teaching English as a second language over Zoom and reenrolled in college to be "exposed to new ideas from younger minds." Bayer, who lives in Pennsylvania, expected his classmates to debate and brainstorm ideas off the top of their heads, but they all went to ChatGPT instead. Initially, he was dumbfounded. But when he saw the list of ideas for a group discussion, it exceeded what he would've come up with.

Mark Bayer's wife
Mark Bayer's wife is just as into tech as he is.

Mark Bayer

Ignoring AI, he says he realized, "is a way to say I'm done learning anything new, which is self-limiting."

There have been downsides: He's noticed that disconnecting from tech has become harder. He admits that if he gets a call while mowing the lawn, he will stop to pick it up. His wife is the same way, sometimes scrolling Instagram for hours without noticing. He hasn't quite erased the idea that face-to-face interaction has some merit, though.

A robot-enabled retirement

Many new high-tech tools are being built to help older Americans remain healthier and safer in their homes and assisted living communities. Chia-Lin Simmons, CEO of medical alert devices company LogicMark, tells me that technology in caregiving has become a necessity rather than a luxury, with the potential to predict falls and detect Alzheimer's early. AI is being trained to track behavioral patterns and health outcomes, though it sometimes falls short at triaging calls and often erases the human element, isolating older Americans who need the company most.

Some boomers are ready for this Jetsons-like future. Take Michelle Murphy, 64, who is pursuing an MBA with a concentration in AI. A photographer and instructional designer in Michigan, Murphy says her focus in her 60s has been pivoting to a new career— retirement isn't a good fit, she says. Down the line, she isn't opposed to using robotic healthcare workers to avoid assisted care, though she's keen on not becoming overly reliant on tech due to privacy concerns. For now, her goal is to get her coffee pot to start automatically.

"If there's an automation that can help me do the things I need to do, mow the grass for me, pick up heavy things, whatever it is, I'm totally on board with that," Murphy says.

Michelle Murphy
Michelle Murphy has relied on Wyze cameras and other advanced tech for security and ease.

Michelle Murphy

There is a big market in making the idea of robot-assisted care a reality. Investment in age tech has boomed, particularly in products that make caregiving easier, like smart home automation devices, companion robots, and motion sensors. AARP predicts that by 2030, the age-tech market will be worth $120 billion. And given the rise, many hope age tech can alleviate some of the burden for younger generations.

"We've got 63 million family caregivers, 70% of them in paid jobs, and we're very familiar with childcare, but elder care is not well understood," said Diane Ty, managing director of the Milken Institute Future of Aging. "That's what's breaking the backs of so many workers right now."

Plenty of people and investors I spoke to also hope AI and other age tech can slow cognitive decline. However, various studies have shown that AI assistants contribute to reduced cognitive engagement and skill atrophy, meaning in some ways, relying too much on AI works counter to what these super-users may think.

80 is the new 25

As I wrote last year, America's octogenarians have been embracing tech in surprising ways. Frank Engelman, 82, has created apps, runs a YouTube channel, and writes a Substack about tech education. Luis Bautista, 82, told me he was using AI to write a book and start a business that he one day wants to pitch to Y Combinator. Phyllis Scalettar, 80, began an AI education and consulting firm. Karen Shapiro, 80, said this month that she uses AI for everything from planning vacations to Italy to managing finances — "tech will make life less confining and more enjoyable as we age," she says.

Study after study shows loneliness continues to grow among older Americans. According to AARP, 40% reported feeling lonely last year, up from 35% in 2018. Tech may be partly to blame, as an increasing number of older Americans are addicted to their phones — one survey found that 40% of the over 2,000 respondents ages 59 to 77 felt discomfort when pulled away from their devices.

For a lot of Americans, however, tech is a way to make the most of their golden years and to stay healthy for longer.

Marvin Honig
Marvin Honig is often on the computer in his retirement.

Marvin Honig

Marvin Honig, 88, takes AI courses, set up NotebookLM files for his St. Petersburg, Florida, condominium board, and use advanced tech to manage trust accounts for former law clients. Perhaps this could've been expected from an early tech adopter who received tech support from a young Michael Dell. Still, seeing many of his neighbors using all sorts of tech was perhaps not on his bingo card, and many of his interactions now revolve around tech recommendations and support. Like many older techies, the tech wave has also allowed him to luxuriate in the disconnected part of his life, from visiting museums and restaurants to attending in-person community events — he gets there using his Tesla's self-driving feature.

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18 celebrities who moved to Texas on why it's the best place for them

Glen Powell, Bella Hadid, James Marsden side-by-side
Glen Powell, Bella Hadid, and James Marsden all live in Texas.

Getty Images

  • Texas has become one of the top destinations for movers in the US.
  • Its business-friendly climate and lower cost of living attract people from all walks of life.
  • Supermodel Bella Hadid and actor James Marsden are among the celebrities who have moved to Texas.

Texas is popular for many reasons.

The second-largest US state is the birthplace of the iconic musician Beyoncé Giselle Knowles-Carter as well as NFL star Michael Strahan and actresses Selena Gomez and Reneé Zellweger.

It's also home to a beloved football team, the Dallas Cowboys, and internationally famous festivals including South by Southwest (SXSW).

Beyond its cultural significance, Texas has a reputation for its affordability, largely due to its relatively lower cost of living and absence of state income tax. This personal finance appeal, combined with a business-friendly environment, has attracted entrepreneurs and their companies over the years.

Word has gotten out — and cities in the Lone Star State often lead lists of top places Americans are moving to.

According to a Business Insider analysis of individual-level data from the Census Bureau's 2022 American Community Survey, over 668,300 people moved to Texas between 2021 and 2022, the most recent time period for which data is available. This makes Texas the second-most popular destination in the US for movers, just behind Florida, which had about 739,000 inbound movers during the same period.

Several celebrities are among the hordes of movers to Texas. This reflects a broader trend of wealth realignment in the United States, where even the proverbial Joneses are moving to areas where their money goes further and the weather is more favorable.

Consider supermodel Bella Hadid, who moved to Fort Worth, Texas, this year to live with her professional horseman boyfriend, Adan Banuelos. Roseanne Barr and comedian and podcast host Joe Rogan have decamped from LA to Austin in recent years.

Many other stars have also relocated to Texas.

Business Insider has compiled a list of 16 notable celebrities and businesspeople who have moved themselves — and in some cases, their businesses — to the Lone Star State.

The list is presented in alphabetical order by last name.

Roseanne Barr traded the Hollywood Hills for 30 acres in Texas Hill Country.
Roseanne Barr at the Mr. Birchum Series Premiere.
Roseanne Barr.

Araya Doheny/Getty Images for DailyWire+

Roseanne Barr's son, Jake Pentland, told Us Weekly in June 2025 that his famous mother had traded the Hollywood Hills for Texas Hill Country, a region in central Texas that includes cities like Austin and New Braunfels.

"My mom lives with me, my wife, and my two daughters — she's the best grandma," Pentland told the magazine.

In a separate June interview with Fox News Digital, Barr said living in Texas is a "dream come true" and described what her new life looks like.

"I'm doing a lot of mowing. I've got a really fantastic tractor out here, and I'm mowing," Barr said. "The only problem is I don't clear the trees quite as good as I should, and I'm always hitting a tree and knocking it over, and it always hits me in the head."

Haylie Duff admitted it took a while to realize she could still have an acting career without living in LA.
haylie duff march 2020
Haylie Duff attends the LA Premiere of "Mira, Royal Detective" at Disney Studios on Saturday, March 7, 2020, in Burbank, Calif.

Mark Von Holden/Invision/AP

A native of Texas, Duff decided with her fiancé Matt Rosenberg to pack up the kids and leave California once the pandemic hit.

At first, she was nervous that the move would hurt her career.

"I think so much of my fear of moving out of Los Angeles was that my career was there and that I would never work again or something like that," she told Fox News Digital in 2022. "And, you know, I think this has all taught us that Zoom certainly can be a very powerful tool. And we can, you know, very luckily for me, get to continue to work from here, and I get to live near my dad. I haven't lived, here, near my dad in a really long time."

Scott Eastwood loves living in Texas because it "slows life down."
Scott Eastwood arrives at the world premiere of "The Mule" on Monday, Dec. 10, 2018, at the Westwood Regency Village Theatre in Los Angeles. (Photo by Willy Sanjuan/Invision/AP)
Actor Scott Eastwood.

Willy Sanjuan/Invision/AP

The son of Clint Eastwood, Scott has been methodically building his own career, showing up in the "Fast and Furious" franchise and Guy Ritchie movies.

During his downtime in Texas, he does everything from fishing to hunting.

"I think that's why people who come to Texas really can fall in love with it," he told Flaunt in 2021 from his home in Austin. "There's more community, people are more neighborly, people are nice. It slows life down a little bit. It's not this fast-paced living in a big city like New York or Los Angeles."

Adrian Grenier's acting career is thriving in Texas.
A man holds a microphone on stage, and red drapes flow in the background.
Adrian Grenier speaks onstage during SXSW.

Gary Miller/The Hollywood Reporter via Getty Images

In 2020, "Entourage" and "The Devil Wears Prada" star Adrian Grenier left the Hollywood Hills for a 46-acre sustainable ranch in Bastrop, Texas, a city about a 40-minute drive southeast of Austin.

While in Texas, Grenier has continued acting and most recently appeared in the short film "Self Custody," about a struggling father who loses a cryptocurrency fortune. The film was shot in Austin, near his home.

In an interview with Page Six in March, Grenier said Texas' burgeoning film and television industry will keep him in the state.

"There's $2.5 billion that the Texas state government just put into film and television projects in Texas," Grenier said. "They're building three movie studios not too far from me. I don't see any reason why we wouldn't just continue to film in Texas."

Bella Hadid said she moved to Texas for her health.
US model Bella Hadid poses as she arrives for the screening of the film "Tre Piani" (Three Floors) at the 74th edition of the Cannes Film Festival in Cannes, southern France, on July 11, 2021
Bella Hadid.

VALERY HACHE/AFP via Getty Images

After spending most of her life jet-setting around the world trying to conquer the modeling industry, Hadid decided recently to take some time away from the spotlight.

In early 2024, she spoke to Allure about moving to Texas to focus on her mental and physical health (she was diagnosed with Lyme Disease in 2013), and be with her cowboy boyfriend Adan Banuelos.

"Just as I have styled myself for years now — which I still do — I love being able to do my own hair and makeup, be happy with how I look, and get ready with my girlfriends here in Texas," Hadid told Allure. "We have the best time, and I never feel like I need to do too much."

"For the first time now, I'm not putting on a fake face. If I don't feel good, I won't go. If I don't feel good, I take time for myself. And I've never had the opportunity to do that or say that before," Hadid added. "Now when anybody sees me in pictures and they say I look happy, I genuinely am. I am feeling better; my bad days now were my old good days."

Woody Harrelson is lobbying to make Texas a production hub for film and television.
Woody Harrelson smiling at a camera on the red carpet.

Rodin Eckenroth/Getty Images for 20th Century Studios

Harrelson lived in Hawaii for many years before moving back to his home state of Texas in 2023.

Now in the Lone Star State and living just outside Austin, the actor has lobbied alongside longtime friend Matthew McConaughey to make Texas a hub for film and television production.

In 2025, the Texas House approved Senate Bill 22, which provides $300 million every two years through 2035 to support the local film industry.

50 Cent is a New Yorker, but his primary residence is in Texas.
Curtis Jackson III smiling on set of "Fox & Friends."
Curtis Jackson III, also known as 50 Cent

John Lamparski/Getty Images

In 2021, the rapper-turned-television producer and entrepreneur announced on X that he was living in Houston.

Since James Marsden moved to Texas, he lives closer to his mother.
james marsden

Charley Gallay/Getty Images

The star has enjoyed visiting Austin for decades but finally decided to live there in 2020.

"I love it. I've been coming here for 20 years," he told "Live with Kelly and Ryan" in 2020. "I'm much closer to my mom and everybody. I love it. It's great."

Former Uber CEO Travis Kalanick traded California for Texas.
Travis Kalanick wears a black and white suit with a bowtie.
Travis Kalanick.

Theo Wargo/WireImage

The former Uber CEO announced on the daily live video and audio podcast TBPN in March that he had moved to Texas in December 2025.

Kalanick joins a slew of tech billionaires, including Tesla CEO Elon Musk, who have left California for greener pastures.

Keith Lee fell in love with Dallas' restaurants.
Keith Lee onstage at VidCon Anaheim on June 23, 2023 in Anaheim, California.
Keith Lee onstage at VidCon Anaheim on June 23, 2023 in Anaheim, California.

Unique Nicole/Getty Images

The former mixed martial arts (MMA) fighter turned TikTok food critic has set up shop in Texas.

After living in Las Vegas, Lee relocated to Texas in November 2024. In a December video reviewing the downtown Dallas restaurant The Wicked Butcher, he revealed that he now lives in Dallas.

"One thing I do love about the Dallas food scene — we've been here a month, a month and a half — they do have some nice fine dining restaurants," Lee said.

Matthew McConaughey wanted to be closer to family.
Matthew McConaughey UT
Matthew McConaughey UT

Getty

Oscar-winner Matthew McConaughey and wife Camila Alves settled in Austin in 2012 after buying a 10,800-square-foot mansion.

According to a 2024 profile in Southern Living, the move to Texas was initially because of a "family crisis," when he needed to help his mother and two brothers. The couple decided to stay put and raise their three children there.

"Ritual came back," McConaughey said of being back in Texas. "Whether that was Sunday church, sports, dinner together as a family every night, or staying up after that telling stories in the kitchen, sitting at the island pouring drinks and nibbling while retelling them all in different ways than we told them before."

Elon Musk moved to Texas and brought his companies with him.
Elon Musk in black tie, laughing.
Tesla CEO Elon Musk.

Steve Granitz/FilmMagic via Getty Images

In July, Elon Musk vowed to move two of his companies, X and SpaceX, out of California and into Texas. He already moved Telsa to Texas in 2021.

In 2020, Musk announced that he had already moved to Texas himself at The Wall Street Journal's CEO Council summit.

Musk has claimed to own a tiny home in Texas, and records show he bought a house in Austin in 2022.

Shaquille O'Neal has been buying up properties in North Texas.
Shaq

Getty/E! Entertainment

In 2022, O'Neal bought a 5,269-square-foot home in Carrollton listed at $1,224,000 and sold it in 2024 for an undisclosed amount, though it was listed for $1.7 million, according to Realtor.com.

That year, Chexy Trust, tied to the Carrollton purchase, bought a 4,670-square-foot home in Rockwall County. In 2024, O'Neal opened a branch of his Big Chicken chain restaurant in Fort Worth.

As his footprint in the region grows, he told WFAA he plans to make the area his home base.

"I'm 75% going to move here full time," O'Neal said in June. "I have to see what's going on with TNT next year, but based on that, you'll probably be seeing a lot more of me."

Glen Powell got tired of the lack of freedom living in Los Angeles.
Glen Powell attends CinemaCon 2023.
Glen Powell attends CinemaCon 2023.

Gabe Ginsberg/WireImage

The "Twisters" star, who is also a native Texan, moved back to Austin from Los Angeles recently to be close to his family and for his own mental health.

"When all you do is consume movies and entertainment, you could become a little self-aware and maybe derivative of yourself," Powell told USA Today. "Your personal life, there's no sort of freedom there, there's storytelling around that, and I feel like that's just not good for you on the long term."

Jared Padalecki has a soft spot for Austin.
jared padalecki 2019

Charles Sykes/Invision/AP

Padalecki ditched Hollywood for Texas before it was a trend. The "Supernatural" star, a San Antonio native, relocated from Los Angeles to Austin with his wife, Genevieve, in 2012.

In an Instagram video taken on Austin's 24th Street in 2020, he explained why he loves the city so much.

"Austin brings me a warmth and a happiness and a peace that I have been unable to find anywhere else in my travels," Padalecki said. "I love being here."

Christine Quinn's return to her home state has brought her closer to her family.
Former Selling Sunset star Christine Quinn.
Christine Quinn.

Arnold Jerocki/Getty Images

In 2025, former "Selling Sunset" star Christine Quinn relocated to her home state of Texas after splitting from her ex-husband, tech entrepreneur Christian Dumontet.

Quinn now lives in a suburb outside Dallas with her young son, Christian.

"I am really, really grateful to be living here," Quinn told People in January, adding that she's happy to be closer to family. "I have a sister who lives really close to me, and my son has a cousin. So it's really something that I needed as opposed to the chaos when I was in Los Angeles."

Joe Rogan ended up in Texas once the pandemic hit.
Joe Rogan

Syfy/Getty Images

Like many other celebs, Rogan left Los Angeles once the pandemic hit.

In a 2023 episode of his popular podcast, "The Joe Rogan Experience," he explained why he ended up in Texas.

"Then we went to the lake, and people are playing music and jumping in the water," said Rogan, adding that his kids "were like, 'We want to live here!'"

"That was it. Two months later, I lived here," he said in the podcast episode.

Jamie Lynn Sigler has felt more connected to her craft since moving to Texas.
Jamie-Lynn Sigler in 2020.
Jamie-Lynn Sigler in 2020.

Jason Mendez/Getty Images

"The Sopranos" star moved to Austin in 2021 with her family, husband Cutter Dykstra, and sons Beau and Jack.

"I almost feel more connected to my craft and why I love acting," Sigler told The New York Times in 2021. "When the calls come in, it's a beautiful surprise. I'm still on things and I'm still a businesswoman and it's still my career, but I don't feel the pressure around it because we took a stand for ourselves and we made decisions for our families."

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The DOJ is dropping its investigation into Jerome Powell, removing an obstacle for Trump's new Fed chair nominee

powell
Fed Chair Jerome Powell

IMF

  • The DOJ will drop the criminal probe into Fed Chair Jerome Powell.
  • The Fed's Inspector General will take over the investigation, the Attorney General said.
  • The move paves the way for Kevin Warsh to be confirmed as Powell's successor.

The Department of Justice will drop its probe into Federal Reserve Chair Jerome Powell, US Attorney Jeanine Pirro announced Friday.

She said the Inspector General for the Fed has been asked to "scrutinize the building costs overruns — in the billions of dollars — that have been borne by taxpayers," and will take over the investigation from the DOJ. This means the possibility of criminal charges against Powell has been dropped for now.

The department launched a probe in January into Powell over the Fed's alleged mishandling of construction funds at the central bank's Washington DC buildings.

"Note well, however, that I will not hesitate to restart a criminal investigation should the facts warrant doing so," Pirro said on X. She added that she expects "a comprehensive report in short order" from the Inspector General and is "confident the outcome will assist in resolving, once and for all, the questions that led this office to issue subpoenas."

The Fed — and Powell specifically — has faced ongoing scrutiny from the Trump administration. When the probe was announced in January, Powell posted a video online, saying that, "No one — certainly not the chair of the Federal Reserve — is above the law. But this unprecedented action should be seen in the broader context of the administration's threats and ongoing pressure."

The Fed declined to comment to Business Insider on Friday.

The chair's term is set to end on May 15, though he indicated that he may remain on the Federal Open Market Committee as a governor.

Warsh is one step closer to confirmation

Trump nominated former Wall Street executive Kevin Warsh as Powell's successor in February, and a hearing before the Senate Committee on Banking, Housing, and Urban Affairs was held on April 21.

The largest obstacle to Warsh's confirmation has been Sen. Thom Tillis, a North Carolina Republican, who has repeatedly said he would block any potential Powell replacement until the Justice Department ended its probe. Tillis, along with other lawmakers across the aisle, has expressed concern that the probe was political overreach — and a threat to future Fed independence.

Following Warsh's confirmation hearing, Tillis renewed his push for an off-ramp that would allow him to drop his objection and for Warsh to proceed to likely confirmation. Tillis told reporters that one idea would be for one or more congressional committees to take up the investigation into the updates to the Fed's headquarters in Washington.

"I not only think it's a good off-ramp, but I also think it's good governance," Tillis told reporters after the confirmation hearing, per Politico.

Pirro's statement isn't what Tillis outlined, but Federal Reserve Inspector General Michael E. Horowitz is widely respected by members of both parties on Capitol Hill. Tillis' office didn't immediately respond to a request for comment from Business Insider.

In 2025, Powell asked Horowitz to look into the ballooning cost of renovations at the Fed's headquarters. Horowitz's website already lists such an investigation as part of its ongoing work.

"We are assessing the Board's oversight of its Marriner S. Eccles Building and 1951 Constitution Avenue Building Renovation Project, including the associated costs," the description reads. "Our scope will include a focus on the key factors contributing to the cost estimate increases, including assessing whether discretionary design features contributed materially to those increases."

Sen. Tim Scott, a Republican senator from South Carolina who chairs the Banking Committee, said in a statement that he would invite Horowitz to brief Congress on his findings within the next 90 days.

The committee and Senate have yet to vote on Warsh's nomination, though he is likely to be greenlit. Warsh would be the wealthiest Fed chair in history, with financial disclosures showing that he is worth over $100 million.

Powell will hold the chair seat for one more rate decision — or until the next chair is confirmed. The FOMC is set to meet this coming week and is expected to hold rates steady.

This is a developing story, check back for updates.

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