Federal Reserve Battles Subpoenas in Powell Investigation

The U.S. Federal Reserve is reportedly engaged in a covert legal battle to contest two subpoenas linked to a criminal investigation led by U.S. Attorney Jeanine Pirro into its Chair, Jerome Powell. According to the Wall Street Journal, these subpoenas are part of a broader inquiry into unspecified actions by Powell.

As of now, details surrounding the nature of the investigation and the precise allegations remain undisclosed, fueling speculation about the implications for both Powell and the Federal Reserve’s operational integrity.

Reuters, seeking confirmation, has not been able to verify the Wall Street Journal's report, leaving the financial community and the public to ponder the potential fallout of this legal entanglement.