Federal Judge Upholds Block on Subpoenas to Fed Chair Jerome Powell

Chief U.S. District Judge James E. Boasberg of the District of Columbia has quashed subpoenas issued by the Justice Department to the Federal Reserve, which sought records related to Chair Jerome Powell and the Fed’s building renovations ^[1][2]. The subpoenas were part of an investigation into Powell’s June 2025 testimony before the Senate Banking Committee regarding a $2.5 billion renovation project at the Federal Reserve ^[3].

Judge Boasberg stated that the government had provided “essentially zero evidence” to suspect Powell of any crime, suggesting that the subpoenas appeared to be a pretext to pressure him to lower interest rates or resign ^[2][3]. A transcript from a closed-door hearing on March 3 revealed that a federal prosecutor privately conceded there was no evidence of criminal activity in the renovation investigation ^[3].

The Justice Department, led by U.S. Attorney Jeanine Pirro, has announced plans to appeal the ruling ^[2][3]. In response to the ongoing investigation, Senator Thom Tillis (R-N.C.), a member of the Senate Banking Committee, has stated he will block consideration of Kevin Warsh’s nomination to replace Powell until the investigation is concluded ^[3][4].

What Is Known: The subpoenas were issued in January 2026 as part of an investigation into Powell’s testimony about the Federal Reserve’s renovation project ^[3]. Judge Boasberg’s decision to quash the subpoenas was based on the lack of evidence presented by the Justice Department ^[1][2].

What Remains Unclear: The motivations behind the Justice Department’s investigation and whether the appeal will lead to further legal proceedings remain uncertain ^[2][3].