Fed watchers welcome court ruling on Powell
However, expert says DoJ’s appeal against decision could thwart Warsh’s confirmation as Fed chair
A US judge’s decision to throw out the criminal case against the Federal Reserve has been welcomed by Fed watchers. However, if any appeal drags on, it could prevent Kevin Warsh from taking over in May as Fed chair.
The US Department of Justice (DoJ) in January issued subpoenas demanding documents related to cost overruns on the refurbishment of the Fed’s headquarters in Washington. The Fed chair Jerome Powell said he was in fact being punished for not slashing interest rates to the degree
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