Federal Reserve (FED) · US Congress · Donald Trump · DOJ · Axios
Judge rejects Department of Justice bid to reinstate Powell subpoenas
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A U.S. judge on Friday stood by his decision to quash Department of Justice subpoenas targeting Federal Reserve chair Jerome Powell.
Key facts
- A U.S. judge on Friday stood by his decision to quash Department of Justice subpoenas targeting Federal Reserve chair Jerome Powell
- The intrigue: Warsh is in confirmation limbo as long as the DOJ presses ahead on its investigation into Powell, whose term expires next month
- The ruling is the latest development in the Trump administration's unprecedented investigation into the nation's top central banker
- The U.S. District Court for Washington, D.C., denied the government's motion to reconsider an earlier decision to throw out the grand jury subpoenas directed at Powell
Summary
The ruling is the latest development in the Trump administration's unprecedented investigation into the nation's top central banker. The government can appeal the decision, prolonging a standoff that could delay the confirmation of Kevin Warsh, President Trump's pick to replace Powell. The U.S. District Court for Washington, D.C., denied the government's motion to reconsider an earlier decision to throw out the grand jury subpoenas directed at Powell. Judge James Boasberg, the court's chief judge, quashed the subpoenas last month on the grounds that the probe was aimed at pressuring Powell into yielding to Trump or resigning.