US judge maintains block on subpoenas to Jerome Powell
A US judge upheld a block on subpoenas in a probe of Fed Chair Jerome Powell. The ruling likely triggers an appeal and may delay the confirmation of his successor.
A federal judge in the United States has upheld a decision to block subpoenas issued in a criminal investigation involving Federal Reserve Chair Jerome Powell. Chief U.S. District Judge James Boasberg of the District of Columbia rejected a request from the Justice Department to reconsider his previous ruling, which effectively halted the probe into the central bank leader.
The legal dispute stems from subpoenas issued in January to the Federal Reserve Board of Governors. In a March 13 ruling, James Boasberg determined that the subpoenas were issued for the improper purpose of pressuring Jerome Powell to comply with demands from Donald Trump to lower interest rates or resign. The investigation, led by Washington D.C. prosecutor Jeanine Pirro, sought information regarding renovation costs at the central bank's headquarters and testimony provided to Congress.
