The U.S. Department of Justice will appeal the Powell case ruling, potentially delaying Warsh's appointment.
PANews reported on March 14th that, according to Jinshi, after a judge dismissed subpoenas issued to the Federal Reserve, U.S. Attorney Robert Piro vowed to continue his investigation into Federal Reserve Chairman Jerome Powell, potentially delaying the appointment of his successor, Kevin Warsh, whose term ends in May. U.S. District Judge James Bosberg stated that the government failed to provide any evidence to justify its subpoenas related to the renovation of the Federal Reserve headquarters building and Powell's comments on the project. Piro stated, "This process was arbitrarily disrupted by a radical judge. The process should have proceeded smoothly, but they didn't. They are disgraceful." Senator Tillis, a member of the Senate Banking Committee, warned that he would block any nomination of a Federal Reserve chairman as long as the Justice Department's investigation into Powell continues. "This ruling confirms how weak and baseless the criminal investigation into Chairman Powell was; it's nothing more than a failed attack on the independence of the Federal Reserve," Tillis said. "The appeal will only delay the confirmation of Kevin Warsh as the next Federal Reserve chairman." (Jinshi Data APP)
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