Overview
- U.S. District Judge James Boasberg invalidated subpoenas to Jerome Powell and the Federal Reserve, temporarily halting the investigation.
- The court said there is substantial indication the government sought to pressure Powell to back lower interest rates or to resign.
- Prosecutors sought documents tied to a multi‑year renovation of Fed buildings and alleged Powell misled the Senate, claims he denies.
- U.S. Attorney Jeanine Pirro condemned the decision as outrageous and said the Justice Department will appeal.
- Powell’s term ends May 15, President Trump has nominated Kevin Warsh to succeed him, and Sen. Thom Tillis signaled he would block confirmation proceedings while the probe continues.