politics

April 3, 2026

U.S. judge upholds block on subpoenas to Fed's Powell, teeing up likely appeal

A U.S. judge upheld block on subpoenas to Fed's Powell, teeing up a likely appeal.

U.S. judge upholds block on subpoenas to Fed's Powell, teeing up likely appeal

TL;DR

  • A U.S. judge reaffirmed his decision to block subpoenas in a criminal probe of Federal Reserve Chair Jerome Powell.
  • The judge ruled that the subpoenas were issued improperly to pressure Powell regarding interest rates.
  • The Justice Department plans to appeal the ruling, which could delay President Trump's nominee for Fed chair.
  • Prosecutors are investigating Powell for potential fraud and false statements, though they acknowledge not currently knowing of evidence of a crime.
  • The Fed's legal team argued the initial ruling was supported by overwhelming evidence.

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