• A federal judge blocks DOJ subpoenas aimed at Fed Chair Jerome Powell.
• The judge cited a lack of evidence and political motivation behind the inquiry.
• The ruling may impact ongoing Federal Reserve nominations, particularly Kevin Warsh.
• U.S. Attorney Jeanine Pirro plans to appeal the decision.
• Senator Thom Tillis criticizes the investigation as weak and frivolous.

A federal judge, James Boasberg, on Friday quashed subpoenas issued by the Justice Department targeting Federal Reserve Chair Jerome Powell. The judge ruled the subpoenas were politically motivated, stating, "There is abundant evidence that the subpoenas' dominant (if not sole) purpose is to harass and pressure Powell either to yield to the President or to resign," according to CBS News, Reuters, and NPR.

Powell had previously revealed the investigation on January 11, deeming it a threat to the Federal Reserve's independence. He stated that the Justice Department's actions regarding Federal Reserve renovations were a pretext for the investigation, a view echoed by the judge in his ruling. Boasberg remarked that the government "has produced essentially zero evidence to suspect Chair Powell of a crime," according to SCMP and Los Angeles Times.

This ruling has significant implications for ongoing Senate considerations regarding the nomination of Kevin Warsh, Trump’s choice to succeed Powell after his term ends. Senator Thom Tillis indicated he would block any nominees until the investigation is concluded, describing the criminal probe as “weak and frivolous,” as reported by Los Angeles Times and Reuters.

U.S. Attorney Jeanine Pirro expressed her intention to appeal the decision, condemning the ruling as a loss for legal authority and a means to shield Powell from accountability, according to SCMP and NPR.