
A federal judge on Friday said he was blocking subpoenas that the Justice Department served to Federal Reserve Chair Jerome Powell in a probe purported to be about the management of the central bank's renovation. Subscribe to read this story ad-free Get unlimited access to ad-free articles and exclusive content.
Main Idea: A federal judge blocked subpoenas targeting Federal Reserve Chair Jerome Powell, saying the government appeared to use them to pressure him over interest rates rather than for a real criminal case.
Key Points:
The blocked subpoenas may reduce political pressure on the Fed,. They also keep uncertainty high about interest rates that affect mortgages, loans, and credit card costs.
No clear positive impact identified.
Rate how each entity in this article affected the American people.
Central institution whose independence, leadership, and renovation were at issue.
Main target of the subpoenas and the central figure in the dispute over Fed independence.
Issued the ruling blocking and quashing the subpoenas, making his order central to the story.
The office led the probe and was directly involved in the subpoena fight.
U.S. attorney whose office pursued the probe and who publicly defended the investigation after the ruling.
His pressure on the Fed and push against Powell are a major part of the article’s context.
Took a concrete position by threatening to block Kevin Warsh’s confirmation until the probe is dropped.
Comments here are the same thread shown when this article appears in The Pulse.
No comments on this article yet.
Sign in to commentTrump’s nominee to replace Powell and a relevant figure in the confirmation fight.
Mentioned because Powell’s testimony before it is part of the alleged basis for the threatened indictment.