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Fri, 13 Mar 2026

Fri, 13 Mar 2026 Judge says 'no evidence' to justify Federal Reserve probe

Jeanine Pirro said she would appeal the ruling, which blocks the subpoenas she issued to the central bank.

* US Judge James Boasberg has blocked a Justice Department investigation into the Federal Reserve, dealing a victory to Fed Chairman Jerome Powell.
* The judge ruled that prosecutor Jeanine Pirro presented "no evidence" to justify her demands for information from the Fed and agreed with Powell's claim that the probe was a pretext to pressure him to lower interest rates.
* Pirro has vowed to appeal against the decision, calling it "wrong on its face" and saying it had "neutered" her ability to investigate crime.
* The case has sparked concerns about political pressure on the central bank and has complicated White House efforts to install a new Fed chair.
* Pirro criticized Judge Boasberg's ruling as "outrageous" and said that prosecutors typically do not have to produce evidence at this stage.
* Powell had put out a video accusing the Trump administration of launching the legal probe to pressure him into cutting interest rates.
* The judge found that the subpoenas were issued for an "improper purpose" of pressuring Powell to comply with Trump's demands for lower interest rates.
* Senator Thom Tillis has vowed to block the appointment of a new chairman unless the investigation is resolved, and a statement from his office said appealing the decision would only delay the confirmation of Kevin Warsh.