Jerome Powell Wins Court Case: Investigation Dismissed

A federal judge has dismissed the investigation against Fed Chairman Jerome Powell, calling it "pretextual." The investigation concerned the management of the renovation of the Fed headquarters.

Judge James Boasberg emphasized that the government presented no evidence of guilt and that the investigation was intended to pressure Powell to lower interest rates or resign.

Prosecutor Jeanine Pirro stated that Powell enjoys immunity but intends to appeal. Senator Tom Tillis warned that an appeal would delay the appointment of Kevin Warsh.

Powell had revealed the investigation on January 11, arguing that it threatened the independence of the Fed.