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Judge rejects Department of Justice bid to reinstate Powell subpoenas
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Federal Reserve chair Jerome Powell speaks at Harvard University in Cambridge, Mass., earlier this week.
Key facts
- Federal Reserve chair Jerome Powell speaks at Harvard University in Cambridge, Mass., earlier this week
- 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
Summary
A U.S. judge on Friday stood by his decision to quash Department of Justice subpoenas targeting Federal Reserve chair Jerome Powell. 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.