Federal Reserve's Powell Subpoena Blocked, Likely Appeal Ahead

AI Summary

A U.S. judge upheld his decision to block subpoenas related to a criminal investigation into Federal Reserve Chair Jerome Powell. This ruling was made by Chief U.S. District Judge James Boasberg, who declined to allow a reconsideration of subpoenas issued in January. The subpoenas were aimed at pressuring Powell regarding interest rates and his congressional testimony. The appeal from the Justice Department could delay the nomination of Kevin Warsh as the new Fed chair, as Senator Thom Tillis has stated he will block the nomination during the appeal process.