Fed urges judge to deny bid to resurrect Jerome Powell probe subpoenas

Core Viewpoint - The Federal Reserve's Board of Governors is opposing a request from prosecutors to reconsider a decision blocking subpoenas related to Chair Jerome Powell's renovations and testimony [1][2]. Group 1: Legal Proceedings - The Fed's lawyers argue that the U.S. Attorney's Office has not met the legal standards required for reconsideration of the court's decision [2]. - The attorneys stated that reconsideration is only warranted under specific conditions such as changes in law, new evidence, or to correct clear errors, none of which have been presented by the prosecutors [3]. - The Fed's legal team criticized the prosecutors for mischaracterizing the court's opinion and the underlying record [3]. Group 2: Context and Implications - The Fed's stance against the subpoenas aligns with its previous position that the criminal investigation is a pretext to pressure Powell into more aggressive interest rate cuts, as demanded by former President Donald Trump [4].