Trump administration urges judge to revisit ruling blocking subpoenas to Jerome Powell
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The Trump administration is urging a judge to reconsider his ruling that blocked subpoenas related to a criminal investigation into Federal Reserve Chairman Jerome Powell. The investigation, led by Trump-appointed US Attorney Jeanine Pirro, concerns cost overruns in renovations at the Fed's headquarters and Powell's congressional testimony. Judge James Boasberg initially blocked the subpoenas, citing evidence suggesting the investigation was intended to pressure Powell to lower interest rates or resign. The Justice Department argues that the judge applied an incorrect legal standard and erred on significant facts. Pirro plans to file both a motion for reconsideration and an appeal. The investigation has implications for the Fed's independence and Trump's potential appointment of a new Fed chair when Powell's term expires.
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