A federal judge on Friday quashed US Justice Department subpoenas issued to the Federal Reserve in January, a severe blow to an investigation that has already attracted strong criticism on Capitol Hill.
Judge James Boasberg said that a “mountain of evidence suggests” that the purpose of the subpoenas was simply to pressure the Fed to cut its key interest rate, as US President Donald Trump has repeatedly demanded.
Fed Chair Jerome Powell revealed the investigation on January 11, prompting Senator…
