Federal Reserve Probe Blocked by Judge Over Allegations of Political Motive

A US District Court judge has blocked the Department of Justice’s (DOJ) criminal probe into the Federal Reserve, citing concerns that it was politically motivated. The decision was made on [date] in a case involving former Federal Reserve Chairman Jerome Powell.

The DOJ had issued subpoenas to several individuals and entities as part of its investigation, but the judge ruled that they were overly broad and lacked sufficient evidence to support their issuance. The judge’s order also prohibits the DOJ from issuing any further subpoenas related to the probe.

The DOJ has announced plans to appeal the judge’s decision, arguing that it was wrong to block the subpoenas. The appeals process is expected to take several months to complete.

The Federal Reserve and its chairman have been at the center of controversy in recent years, with some critics accusing them of being too close to Wall Street and failing to regulate the financial industry effectively. The DOJ’s investigation into Powell and the Fed has raised questions about potential wrongdoing and conflicts of interest.

In a statement, the DOJ said it would continue to pursue its investigation, despite the court’s ruling. The Federal Reserve has also declined to comment on the matter, citing ongoing litigation.

The case is ongoing, with no further updates available at this time.

Source: Google News World