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13.03.26 - 21:24
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Judge Rejects Subpoenas of Fed in Powell Case, DOJ to Appeal (Bloomberg)
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A federal judge rejected Justice Department subpoenas seeking records from the Federal Reserve Board related to its headquarters renovations and Chair Jerome Powell's comments to Congress.
The judge said the government had no evidence to justify the subpoenas and they reflected an "improper motive" of retaliating against Powell over policy differences.
The US Attorney's Office for the District of Columbia said they would appeal the decision, which was welcomed by a Republican senator who called the investigation "a failed attack on Fed independence". Bloomberg's Elliot Stein joins to discuss. (Source: Bloomberg)...
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13.03.26 - 21:18
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′President Boasberg′ Protects Powell, Quashes DOJ ′Pressure Campaign′ Subpoena Over Fed Renovation (ZeroHedge)
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'President Boasberg' Protects Powell, Quashes DOJ 'Pressure Campaign' Subpoena Over Fed Renovation
Another day, another activist judge deciding they're the president...
On Friday, chief Judge James Boasberg of the U.S. District Court for the District of Columbia has blocked subpoenas issued by the Trump Justice Department to Federal Reserve Chair Jerome Powell and the Fed Board of Governor
Boasberg claims that the subpoenas were served for an improper, pretextual purpose, and that "a mountain of evidence suggests that the Government served these subpoenas on the Board to pressure its Chair into voting for lower interest rates or resigning," and that the government produced “essentially zero evidence to suspect Chair Powell of a crime; indeed, its justifications are so thin and unsubstantiated that the Court can only conclude that they are pretextual.” The order explicitly quashes the subpoenas.
The subpoenas were issued as part of a DOJ probe into the Fed's management of...
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