A judge annuls the subpoenas to Federal Reserve Chairman Jerome Powell, understanding that the case against him is “unfounded”

The federal judge in charge of the open case against the president of the Federal Reserve (Fed), Jerome Powell, for his alleged negligence in the renovation of the central bank headquarters has suspended the subpoenas issued by the Department of Justice against him, understanding that the open case is of a political nature.

“There is a large amount of evidence indicating that the Government presented these subpoenas to the Board to pressure its president to vote in favor of a reduction in interest rates or to resign,” argued Justice James Boasberg in his opinion.

“On the other hand, the Government has provided practically no evidence that would allow us to suspect that Powell has committed a crime. In fact, its arguments are so weak and unfounded that this court cannot but conclude that it is a pretext,” he added.

Although the investigation initiated at the request of the White House sought to force a rate cut from the Fed, not all Republicans have agreed with the Trump Administration’s decision to investigate Powell.

In this sense, Republican Senator from North Carolina Thom Tillis warned that he would block the nomination of the next Fed president, Kevin Warsh, who was chosen in January by Trump, unless the matter was definitively closed.

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