Judge blocks subpoenas issued to Jerome Powell

A federal judge has blocked subpoenas issued by the Justice Department to Federal Reserve Chair Jerome Powell, stating that they appeared aimed at pressuring him to lower interest rates or resign. Judge James Boasberg found the government’s evidence against Powell to be inadequate and suggested the subpoenas were issued for improper reasons. Powell has previously indicated that the investigation is linked to his testimony regarding the renovation of Federal Reserve office buildings and has expressed concerns about political pressure on monetary policy.

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