Economy

Judge Blocks DOJ Subpoenas Against Fed Chair Powell

A federal judge has thrown out Justice Department subpoenas targeting Federal Reserve chair Jerome Powell, ruling the Trump administration produced "essentially zero evidence" to justify them and was instead attempting to "harass and pressure" the central bank into cutting interest rates. The ruling is a significant pushback against White House efforts to undermine Fed independence — a norm that markets have long relied on. Powell himself had flagged the probe in January as a direct threat to the Fed's autonomy.

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