Summary
A federal judge stopped subpoenas sent to Federal Reserve Chair Jerome Powell, saying there was no proof he did anything wrong. The judge criticized the Trump administration for possibly using these investigations to pressure Powell into lowering interest rates. The Department of Justice plans to appeal the decision.
Key Facts
- A federal judge canceled subpoenas aimed at Federal Reserve Chair Jerome Powell.
- The subpoenas were part of a criminal investigation by the Department of Justice.
- The judge accused the Trump administration of trying to pressure Powell into lower interest rates.
- There was no evidence presented that Powell committed a crime, according to the judge.
- The Department of Justice intends to appeal the judge's decision.
- Sen. Thom Tillis stated he won't support Trump's nominee for Fed Chair unless the investigation is dropped.
- Powell's investigation is linked to interest rate policies and Fed independence.
- Powell's term as Fed Chair ends in May, and any new chair must be confirmed by the Senate Banking Committee.
