US Judge Upholds Block on Subpoenas to Fed's Powell, Tees up Appeal

A US judge has upheld a block on subpoenas to the Federal Reserve's Powell, paving the way for a likely appeal. The decision confirms the block against US Attorney Jeanine Pirro's request. This decision is a significant step in the ongoing criminal investigation into Federal Reserve Chair Powell.

US District Court Judge James Boasberg upheld a block on subpoenas targeting Federal Reserve Chair Jerome Powell, blocking the US Department of Justice's investigation into his actions . The judge declined a request from US Attorney Jeanine Pirro to revisit his earlier decision, effectively confirming the block on the subpoena.

This decision sets the stage for a likely appeal by the US Department of Justice. While the reasons for the block and the appeal are not explicitly stated in the current sources, this news highlights the ongoing tension in the investigation into Powell's involvement.

The broader market implications center on Federal Reserve independence. Markets have historically valued the Fed's insulation from political pressure as a stabilizing force — any perceived erosion of central bank autonomy tends to weigh on equities and the dollar while lifting gold. With the DOJ appeal still pending, traders are watching whether the judiciary will ultimately define new limits on executive reach into monetary policy institutions .