A federal judge has quashed subpoenas the Justice Department had issued against Federal Reserve Chair Jerome Powell, according to court documents unsealed Friday. With Republicans having a slim majority in the Senate Banking Committee, which approves Fed chair nominations, Republicans need Tillis on board with confirming Warsh. In a statement Friday, Tillis described the probe as “nothing more than a failed attack on Fed independence.”“Appealing the ruling will only delay the confirmation of Kevin Warsh as the next Fed Chair,” he wrote. Remarkable news conferenceFriday afternoon, Pirro said the Justice Department will appeal the judge’s ruling and denied claims the investigation is politically motivated. ‘A novel improper purpose is improper all the same’The Board of Governors of the Federal Reserve had challenged the subpoenas in court in February, with secret proceedings that only became public Friday.

Source: CNN March 13, 2026 22:21 UTC