CNBC
U.S. Attorney for the District of Columbia Jeanine Pirro on Monday asked a federal judge to vacate his decisions blocking aspects of her criminal investigation into the Federal Reserve under Chair Jerome Powell.
Pirro’s motion effectively walks back an often-repeated plan to appeal the judge’s rulings to a higher court. That ends, for the time being, the threat that Powell could be forced to turn over evidence to Pirro. Still, it is unlikely to provide the Fed chair the certainty he wants that the legal threat against him and the central bank have dissipated. He has said he will remain on the Fed’s board indefinitely after his term as chair expires later this month.
Pirro has been investigating cost overruns in the Fed’s ongoing building renovations and related testimony to Congress by Powell. Chief Judge James Boasberg of the District of Columbia in March quashed Pirro’s subpoenas to the Fed saying she hadn’t provided evidence of wrongdoing sufficient to counter the appearance that President Donald Trump wanted to put political pressure on Powell to cut interest rates. He upheld that ruling in April.
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