Federal Reserve | U.S. Justice Department Urges Judge to Reconsider Decision to Dismiss Powell Subpoena

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A U.S. federal judge recently blocked the Department of Justice from issuing a criminal subpoena to Federal Reserve Chair Jerome Powell. On Monday, the DOJ asked the judge to reconsider the decision to revoke the subpoena.

The DOJ lawyers argued that the court applied the wrong legal standard in revoking the subpoena for Powell, made errors regarding certain facts, and overlooked other relevant facts.

Federal prosecutors contended that even if the category of materials sought by the government has a “reasonable possibility”—meaning it could contain information related to the grand jury investigation—they should still be allowed to issue the subpoena, even if the recipient of the subpoena “raises a reasonable theory that it is part of a broader scheme.”

Chief Judge James Boasberg of the U.S. District Court for the District of Columbia said last Friday that substantial evidence indicates the primary purpose of the DOJ’s subpoena was to harass and pressure Powell, forcing him to resign or succumb to President Trump’s wishes and appoint a Federal Reserve Chair willing to cooperate with Trump. The government has provided no evidence that Powell committed any crimes, other than displeasing Trump.

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