WSJ: Federal Reserve Files Legal Challenge Against Subpoenas in Criminal Investigation Targeting Powell

Odaily News The Federal Reserve is challenging two subpoenas through legal proceedings. The subpoenas were issued by U.S. Attorney Jeanine Pirro and are related to a criminal investigation targeting Federal Reserve Chairman Jerome Powell.

The report indicates that the investigation focuses on statements Powell previously made to Congress regarding the renovation project of the Federal Reserve building. Powell has publicly stated that the investigation is related to external controversies over monetary policy.

Informed sources said the Federal Reserve has requested the court to quash or narrow the scope of the subpoenas under a confidential procedure. Due to the secrecy rules applicable to grand jury investigations, the related legal proceedings have not been made public. (The Wall Street Journal)