Pirro will not appeal judge’s quashing of Fed subpoenas

U.S. Attorney Jeanine Pirro has decided not to appeal a federal judge's ruling that quashed subpoenas directed at the Federal Reserve and its chairman, Jerome Powell. This decision marks a significant retreat in the Justice Department's investigation into alleged cost overruns in the Fed's building renovation project.

The investigation had raised concerns about potential political interference with the Federal Reserve's independence. The judge's earlier ruling found insufficient evidence to support the subpoenas, suggesting they may have been issued to pressure Powell.

Pirro's choice to forgo an appeal indicates a de-escalation of the legal battle, allowing the Federal Reserve to continue its operations without the looming threat of legal action. This development underscores the delicate balance between governmental oversight and the autonomy of financial institutions.