Pirro appears to drop plans to appeal criminal probe of Fed's Powell
CNBC • • business
Key Points:
- U.S. Attorney Jeanine Pirro appears to have abandoned plans to appeal a ruling that quashed her subpoenas to the Federal Reserve in an investigation targeting Chair Jerome Powell, shifting instead to a motion to vacate the order by Judge James Boasberg.
- The original appeal aimed to reinstate demands for evidence related to cost overruns in Fed building renovations, but the new legal strategy suggests Pirro may be dropping that demand.
- Boasberg ruled against Pirro due to a lack of specific evidence of wrongdoing and concerns the investigation was intended to pressure Powell over interest rate decisions, describing the subpoenas as potentially harassing.
- Pirro has indicated she may reopen the investigation pending a report from Fed Inspector General Michael Horowitz, as her office has been restricted from interviewing witnesses due to the court ruling.
- It remains unclear if Pirro obtained Department of Justice approval for an appeal, and her motion to vacate raises legal questions about her standing to erase court decisions in this context.
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