politics
March 15, 2026
Judge blocks subpoenas in US Justice Department probe of Fed chief
US judge quashes Justice Department subpoenas targeting Fed Chair Jerome Powell over interest-rate pressure
TL;DR
- A US federal judge, James Boasberg, quashed subpoenas issued by the Justice Department against Federal Reserve Chair Jerome Powell.
- The judge stated there was "essentially zero evidence to suspect Chair Powell of a crime" and called the justification for the subpoenas "thin and unsubstantiated."
- The ruling is seen as a blow to President Trump, who has criticized Powell for not lowering interest rates.
- The subpoenas related to Powell's testimony on cost overruns for the Fed's building renovations, which have exceeded initial estimates.
- The ruling could further delay the Senate's consideration of Kevin Warsh, Trump's nominee to replace Powell.
- US Attorney General Jeanine Pirro plans to appeal the decision.
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