U.S. federal judge blocks subpoenas issued to Federal Reserve

NEW YORK, March 13 (Xinhua) -- A judge from the U.S. District Court for the District of Columbia has blocked two subpoenas issued to the Federal Reserve from federal prosecutors, according to a court filing unsealed Friday.

The ruling dealt a blow to federal prosecutors' efforts to attack the central bank, which came under criticism and pressure from the Trump administration due to its monetary policy decisions and overruns in renovations of its buildings.

The court found that prosecutors did not issue those subpoenas for a proper purpose.

"There is abundant evidence that the subpoenas' dominant (if not sole) purpose is to harass and pressure Powell either to yield to the President or to resign and make way for a Fed Chair who will," said James E. Boasberg, chief judge of the court, in the ruling dated Wednesday.

The U.S. government has offered no evidence whatsoever that Fed Chair Jerome Powell committed any crime other than displeasing U.S. President Donald Trump, added the judge.

The court concluded that the asserted justifications for these subpoenas were "mere pretexts."

Trump and his deputies have made at least 100 statements attacking the chair of the Federal Reserve and pressuring him to lower interest rates, said the judge.

The court fight could delay the confirmation of Trump's nomination of the next Fed chair in the U.S. Senate, as Republican Senator Thom Tillis vowed to block any Fed nominee following the investigation against Powell.