Story perspectives

Judge Dismisses Subpoenas, Stalling Warsh's Fed Chair Confirmation

3/27/2026

Summary

Story summary

The Federal Reserve Board of Governors asked a judge to dismiss subpoenas related to Jerome Powell's testimony on $2.5 billion renovation.
The Fed says the investigation is politically motivated to pressure Powell to lower rates, per U.S. President Donald Trump.
A federal judge quashed the subpoenas for insufficient evidence, and prosecutors admitted they lack evidence of any crime by Powell.
The dispute has stalled Kevin Warsh's confirmation as Fed chair.

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Story summary

The Federal Reserve Board of Governors asked a judge to dismiss subpoenas related to Jerome Powell's testimony on $2.5 billion renovation.
The Fed says the investigation is politically motivated to pressure Powell to lower rates, per U.S. President Donald Trump.
A federal judge quashed the subpoenas for insufficient evidence, and prosecutors admitted they lack evidence of any crime by Powell.
The dispute has stalled Kevin Warsh's confirmation as Fed chair.