Federal Reserve Chair Faces Subpoena Dismissal by US Judge
A US judge has ruled that prosecutors under the Trump administration produced insufficient evidence to justify subpoenas against Federal Reserve Chair Jerome Powell.
In a significant legal victory for Federal Reserve Chair Jerome Powell, a US judge has ruled to dismiss two subpoenas that were issued against him during the Trump administration. Judge James Boasberg of the US District Court for the District of Columbia found that the prosecutors under the previous administration had produced 'essentially zero evidence' to justify the subpoenas, which had sought Powell's testimony and documents.
The subpoenas, issued in 2019 and 2020, were part of a broader investigation into the Fed's monetary policy decisions and communications. However, Judge Boasberg determined that the government failed to demonstrate a compelling need for the information it sought from Powell, stating that the subpoenas amounted to an 'extraordinary' intrusion into the independence of the central bank.
{{IMAGE_PLACEHOLDER}}Source: Al Jazeera
