A federal investigation into Jerome Powell, chair of the Federal Reserve, may not be finished after all. Jeanine Pirro, the U.S. attorney for Washington, shelved the inquiry last month when a federal judge struck down her grand jury subpoenas, but she has indicated the case could be revived.
Pirro had been pursuing the investigation into Powell but hit a legal wall when the judge blocked the subpoenas her team sought to compel testimony and documents. Rather than fight the ruling immediately, she chose to suspend the effort.
The development marks an unexpected turn in a matter that had drawn attention from political quarters. While the reasons for the original inquiry remain a subject of debate, the potential resurrection of the case signals that prosecutors may be preparing to challenge the judicial decision or find alternative legal pathways forward.
Powell, who leads the nation's central bank and faces intense scrutiny over monetary policy decisions, has not commented publicly on the matter. The Fed itself has remained silent on the investigation since its suspension.
The outcome could hinge on whether Pirro's office decides to appeal the judge's ruling on the subpoenas or pursues a different legal strategy. Grand jury investigations can be complex and lengthy, and judges often weigh the scope and necessity of subpoenas against privacy and other concerns.
Author Sarah Mitchell: "If Pirro moves forward, this becomes a serious test of whether a sitting Fed chair can face criminal scrutiny in office."
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