US Judge Blocks Subpoenas Against Fed Chair Powell; DOJ Plans Appeal

A US federal judge, James Boasberg, blocked subpoenas issued by the Justice Department targeting Federal Reserve Chair Jerome Powell, ruling they were issued for an improper purpose aimed at pressuring Powell to lower interest rates or resign. The subpoenas related to an investigation into renovation costs at the Fed's headquarters. The Justice Department, led by US Attorney Jeanine Pirro, plans to appeal. The ruling raises concerns about the independence of the Federal Reserve and affects President Trump's efforts to replace Powell.