A US federal judge has blocked subpoenas issued by the Justice Department against Federal Reserve Chair Jerome Powell, impacting ongoing political tensions.
A U.S. federal judge, James Boasberg, has ruled against subpoenas issued by the Justice Department aimed at Federal Reserve Chair Jerome Powell, marking a significant development in the ongoing political scenario involving President Donald Trump. The subpoenas were connected to Powell's testimony concerning budget overruns related to the Federal Reserve's renovation projects, which saw costs ballooning from a projected $1.9 billion in 2022 to an estimated $2.5 billion currently. Boasberg's decision comes amid tensions, particularly as Trump has been vocal in his criticism of Powell for maintaining high interest rates.
