US Judge Upholds Decision to Dismiss Subpoenas Against Federal Reserve Chair Jerome Powell

A United States federal judge has rejected a motion from the Department of Justice to reconsider his earlier ruling dismissing subpoenas against Jerome Powell, the chairman of the Federal Reserve.

In a six-page opinion published on Friday, Judge James Boasberg reaffirmed his decision to nullify the subpoenas, stating that they were issued for an 'improper purpose': to pressure Powell into compliance with President Donald Trump's demands.

The subpoenas were part of an investigation into Powell's handling of renovations to the Federal Reserve's historic buildings in Washington, DC, which have gone over budget. The Trump administration has accused Powell of 'malfeasance' and called for his premature resignation.

Boasberg criticized the Trump administration's efforts, saying they presented 'no evidence whatsoever of fraud' and that the subpoenas were an attempt to undermine the Federal Reserve's independence.

The ruling is likely to set the stage for the Trump administration to appeal, with US Attorney Jeanine Pirro previously denying any political motivation for the investigation.