A U.S. judge has reaffirmed a decision to block subpoenas related to a criminal investigation involving Federal Reserve Chair Jerome Powell. The ruling is expected to be appealed.
The judge stated the Trump administration’s arguments did not demonstrate the legitimacy of the subpoenas, and presented “no evidence whatsoever of fraud.”
This legal challenge creates a potential delay in confirming Kevin Warsh, President Trump’s nominee to replace Powell as Fed chair. An appeal would likely further postpone the confirmation process.