FLASH NEWS
Federal Reserve Chairman Jerome Powell's investigation is dropped! Judge: No evidence of wrongdoing was presented
2026-03-13 21:34:18 / BOTA
A federal judge on Tuesday dismissed a subpoena filed by the Justice Department against Federal Reserve Chairman Jerome Powell over his handling of the Federal Reserve's headquarters renovation.
Powell himself had made it public on January 11 that he was under investigation, arguing that this action by the US government jeopardizes the independence of the Fed and is part of efforts to force it to lower interest rates.
Judge James Boasberg agreed with this argument. According to him, there is a “mountain of evidence” showing that the investigation was ordered to pressure Powell to lower interest rates or resign.
"The government has presented no evidence that President Powell committed any wrongdoing. In fact, its reasoning is so weak and unfounded that the court can only conclude that they are mere pretexts," the judge emphasized.
Following the ruling, District of Columbia Attorney General Jeanine Pirro said the court's interpretation of Powell's immunity meant he could not be investigated. However, she said she would appeal.
Meanwhile, Republican Senator Thom Tillis said that an appeal by Donald Trump's administration would only "delay the appointment of Kevin Warsh" as the new Fed president.
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