A federal judge has dismissed congressional subpoenas issued to Federal Reserve Chair Jerome Powell, delivering a sharp rebuke to the lawmakers who issued them. U.S. District Judge Carl Nichols ruled that the subpoenas from the House Select Subcommittee on the Coronavirus Pandemic served no valid legislative purpose.
In a scathing opinion, Judge Nichols found "abundant evidence" that the subpoenas' primary aim was to "harass and pressure" Powell, either to yield to political pressure or to resign. The subpoenas had sought documents and testimony related to the Fed's pandemic-era lending programs.
The judge concluded that the subcommittee's investigation into the Fed's actions had crossed a line from legitimate oversight into unconstitutional harassment of a sitting official. This ruling represents a significant legal setback for the congressional effort to compel testimony and documents from the central bank chief.
