A federal judge in the United States has quashed two subpoenas seeking testimony from Federal Reserve Chair Jerome Powell. The decision, issued by Judge Randolph Moss in the U.S. District Court for the District of Columbia, blocks an attempt to compel Powell to testify in a lawsuit related to the merger between Capital One and Discover Financial Services.
The subpoenas were sought by a coalition of consumer advocacy groups, including the National Community Reinvestment Coalition, which is suing to halt the merger. The groups argued that Powell's testimony was necessary regarding the Fed's oversight of the deal. Judge Moss ruled that the plaintiffs had not demonstrated the exceptional circumstances required to depose a high-ranking government official like the Fed chair.
The 27-page ruling stated that the information sought could be obtained through other means and that subjecting the Fed chair to deposition would be an undue burden. The lawsuit against the merger, which the Fed approved in February 2025, continues, but Jerome Powell will not be required to give testimony as part of it.
