Last mentioned: 2d ago
Pressure Campaign Begins
President Trump begins a public campaign for lower interest rates and Powell's resignation.
Subpoenas Issued
U.S. Attorney Jeanine Pirro's office issues two grand jury subpoenas to the Federal Reserve Board.
Term Expiration
Jerome Powell's tenure as Chair of the Federal Reserve is set to expire.
Subpoenas Quashed
Judge Boasberg issues a 27-page decision granting the motion to quash the subpoenas.
Appeal Announced
Jeanine Pirro holds a press conference calling the ruling unauthorized and vowing a swift appeal.
U.S. District Judge James Boasberg has quashed Department of Justice subpoenas targeting Federal Reserve Chair Jerome Powell, halting a grand jury investigation led by U.S. Attorney Jeanine Pirro. The ruling characterizes the criminal probe into alleged 'Federal Reserve fraud' as a politically motivated overreach that threatens the central bank's independence.
A federal judge has halted the enforcement of subpoenas directed at the Federal Reserve as part of a criminal investigation involving Chair Jerome Powell. The ruling has drawn sharp criticism from legal analysts and introduces significant leadership uncertainty for the central bank.
A U.S. District Judge has quashed two subpoenas targeting Federal Reserve Chair Jerome Powell, ruling they were issued for the 'improper purpose' of harassing him into lowering interest rates. The decision marks a significant legal victory for central bank independence amid an escalating conflict between the Fed and the Trump administration.