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PoliticsMar 13

Judge Quashes Federal Reserve Subpoenas in Justice Department Criminal Probe

A federal judge ruled against subpoenas targeting the Federal Reserve in a DOJ criminal investigation led by U.S. Attorney Jeanine Pirro.

Synthesized from 5 sources

A federal judge on Friday quashed grand jury subpoenas that were sent to the Federal Reserve Board as part of an ongoing criminal investigation by the Justice Department.

The subpoenas were issued as part of a criminal probe being conducted by U.S. Attorney for the District of Columbia Jeanine Pirro's office. The specific nature of the investigation and what information prosecutors were seeking from the Federal Reserve has not been disclosed.

Following the judge's ruling, Pirro held a news conference on Friday where she expressed strong disagreement with the court's decision to block the subpoenas. The U.S. Attorney's response was characterized as forceful in her criticism of the judicial ruling.

The Federal Reserve, as the nation's central banking system, maintains extensive records related to monetary policy, banking supervision, and financial market operations. Criminal investigators occasionally seek information from federal agencies as part of broader probes, though such requests involving the Fed are relatively uncommon.

The ruling represents a setback for prosecutors in their investigation, though it remains unclear whether the Justice Department will appeal the decision or pursue alternative legal avenues to obtain the sought-after information.

Sources (5)

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