Story perspectives

Judge Blocks Subpoenas, Upholds Federal Reserve Independence

3/15/2026

Summary

Story summary

A federal judge blocked subpoenas to the Federal Reserve regarding Federal Reserve Chair Jerome Powell.
The ruling criticizes the Justice Department for using the investigation as political pressure to lower interest rates.
The ruling finds no credible evidence of wrongdoing in the investigation.
It could complicate President Donald Trump's efforts to replace Powell with Kevin Warsh.
Powell's term ends in May 2026, highlighting the case's focus on Federal Reserve independence.

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Story summary

A federal judge blocked subpoenas to the Federal Reserve regarding Federal Reserve Chair Jerome Powell.
The ruling criticizes the Justice Department for using the investigation as political pressure to lower interest rates.
The ruling finds no credible evidence of wrongdoing in the investigation.
It could complicate President Donald Trump's efforts to replace Powell with Kevin Warsh.
Powell's term ends in May 2026, highlighting the case's focus on Federal Reserve independence.