DOJ still can't subpoena Powell, federal court rules

DOJ still can't subpoena Powell, federal court rules

A federal court denied a Justice Department request to reconsider an earlier ruling that blocked a pair of subpoenas to the Federal Reserve.

The DOJ failed to offer new evidence or identify any material error in the March ruling, U.S. District Judge James Boasberg said.

Last month, Boasberg determined the subpoenas were designed to pressure Fed Chair Jerome Powell to lower interest rates or resign.

Now, a potential appeal risks delaying the confirmation of Kevin Warsh, whom the White House nominated to replace Powell.