Story perspectives

Trump Administration Appeals Ruling on Fed Chair Investigation

3/17/2026

Summary

Story summary

The U.S. President Donald Trump administration seeks reconsideration of a ruling blocking an investigation into Federal Reserve Chair Jerome Powell.
U.S. District Judge James Boasberg ruled subpoenas were improper because probe aimed to pressure Powell to cut rates or resign.
The Department of Justice says the judge erred.
U.S. Attorney Jeanine Pirro plans to appeal.
Senator Thom Tillis said he would not confirm any Fed nominee while the investigation continues.

History

Historical Context

The Federal Reserve Act, enacted on December 23, 1913, established the Federal Reserve System in response to the Panic of 1907, which underscored the need for a stable banking framework. This act aimed to mitigate financial crises and enhance monetary policy oversight. Current scrutiny of Jerome Powell reflects ongoing tensions between political influence and central bank independence, potentially reshaping economic governance in the U.S.

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Story summary

The U.S. President Donald Trump administration seeks reconsideration of a ruling blocking an investigation into Federal Reserve Chair Jerome Powell.
U.S. District Judge James Boasberg ruled subpoenas were improper because probe aimed to pressure Powell to cut rates or resign.
The Department of Justice says the judge erred.
U.S. Attorney Jeanine Pirro plans to appeal.
Senator Thom Tillis said he would not confirm any Fed nominee while the investigation continues.

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