A US district judge on Friday denied the Trump administration’s request to reconsider the legality of two subpoenas targeting the Federal Reserve, after he blocked them last month.
In a biting six-page opinion, US District Judge James Boasberg wrote that the government had failed to provide any new evidence or identify any error in his March ruling.
The chief judge of Washington’s federal trial court wrote that the government’s “cursory brief” does “not come close to convincing the Court that a different outcome is warranted.”
Last month, US Attorney Jeanine Pirro appealed the initial ruling, which blocked two subpoenas seeking Federal Reserve records relevant to a criminal investigation into Fed Chair Jerome Powell and the central bank’s over-budget headquarters renovation.
In the motion to reconsider, Pirro’s office argued that Boasberg was limiting their authority to seek evidence of a crime by blocking the subpoenas.
Immediately after the decision, Pirro said the “outrageous” ruling by “activist judge” left Powell “bathed in immunity.”
Boasberg wrote Friday that the government was ignoring the crux of his initial ruling, which was that the subpoena power cannot be used to investigate someone for an improper purpose.
He argued that the subpoenas were not part of a real criminal investigation, but a tool to target Powell after months of President Trump pressuring the chairman to lower interest rates.
“No matter whom the subpoenas were addressed to … it was clear whom they sought dirt on: Powell,” Boasberg wrote.
Pirro’s office promised Friday to press ahead.
“We will absolutely appeal the judiciary’s interference with our access to the grand jury,” a spokesperson told The Post.
An appeal has the potential to further delay confirmation of Kevin Warsh, Trump’s pick to succeed Powell.
Sen. Thom Tillis (R-NC), a voting member on the Senate Banking Committee, has vowed to block any Fed nominee until the government ends its investigation into Powell.
At the Fed’s meeting last month, Powell said he will stay on as “chairman pro tem” if a successor is not confirmed by May 15, adding that it’s “what the law calls for.”
He also said he plans to remain on the board until the investigation is “well and truly over” – though he has not yet made a decision on whether to remain after Warsh steps into the chairman seat.
Powell could serve as a governor through 2028.
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