#1 out of 3
business10h ago
Trump's campaign against Fed chair Jerome Powell dealt crushing blow
- A federal judge quashed two subpoenas to the Federal Reserve tied to Powell case, marking a legal setback for Trump.
- Judge James Boasberg ruled the subpoenas were improper and aimed to harass Powell rather than show crimes.
- Pirro, a Trump ally, led the probe into Powell’s testimony and Fed building renovations.
- Powell said the investigation aimed to pressure the Fed to cut rates and threaten its independence.
- The ruling caps an aggressive push by Pirro against Powell amid ongoing debates over Fed independence.
- Powell commented that punitive actions would hinder independent monetary policy.
- Trump had criticized Powell for not cutting rates sharply and floated removing him.
- The DOJ had sought Powell-related records tied to a Fed building project overhaul.
- The court decision was unsealed on March 13, 2026, in a case linked to Pirro’s probe.
- The article notes Trump publicly criticized the Fed chair on Truth Social.
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