【Fed Chair】U.S. Federal Court Rejects DOJ Subpoena to Powell, Citing No Evidence of Crime or Motivation to Pressure; DOJ Threatens Appeal

The U.S. Department of Justice issued a subpoena to Federal Reserve Chair Jerome Powell in January to investigate whether he committed perjury regarding the Fed’s headquarters renovation. According to documents released last Friday (13th) by the U.S. court, a federal judge dismissed the DOJ’s subpoena to Powell last Wednesday (11th), and the Department of Justice announced plans to appeal.

This ruling dealt a heavy blow to Prosecutor Jeanine Pirro’s criminal investigation into Fed Chair Powell.

U.S. District Judge James Boasberg stated in his ruling that evidence shows Pirro’s investigation into Powell was motivated by an attempt to pressure the Federal Reserve Chair into yielding to President Trump and to quickly lower interest rates.

“There is substantial evidence that the main purpose of the subpoena is harassment and pressure on Powell, forcing him either to submit to the President or resign, paving the way for a Fed Chair willing to obey the President.”

The judge also noted that the government has provided no evidence that Powell committed any crimes beyond angering the President.

Recently, Federal Prosecutor Pirro strongly criticized the judge’s ruling at a press conference, claiming it deprived the grand jury of its ability to investigate crimes and effectively granted Powell “immunity.”