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DOJ asks judge to vacate Federal Reserve subpoena decisions

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by Julia Shapero, Zach Schonfeld and Sylvan Lane - 05/04/26 3:43 PM ET

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by Julia Shapero, Zach Schonfeld and Sylvan Lane - 05/04/26 3:43 PM ET

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U.S. Attorney Jeanine Pirro asked a court Monday to vacate its decision to quash two subpoenas in her criminal investigation into Federal Reserve Chair Jerome Powell, arguing the issue is now “moot.”

Pirro, the U.S. attorney for the District of Columbia, announced late last month that the Department of Justice (DOJ) was closing its probe into Powell’s handling of Fed renovations and handing over the investigation to the Fed inspector general.

While Pirro previously said she planned to appeal the decision to quash the subpoenas, the latest filing signals she will not move forward with an appeal after all.

“[T]he United States does not agree with this Court’s decision to quash the subpoenas,” the filing reads. “However, even in the event of a successful appeal to the D.C. Circuit, the United States cannot obtain meaningful relief because the investigation has closed.”

“When ‘an event occurs while a case is pending on appeal that makes it impossible for the court to grant any effectual relief,’ an appeal will be dismissed as moot,” it continues.

By vacating the decision to quash the subpoenas, it would leave the door open for a future investigation. Pirro has noted she could reopen the probe based on the inspector general’s findings.

“Should the United States Attorney open a new grand-jury investigation, the issuance of any future subpoenas would be based on a different record, one that would presumably include any information generated by the Inspector General’s analysis,” the filing adds. “And, if the Federal Reserve were to object to a hypothetical future subpoena, legal recourse would remain available.”

The decision on whether to wipe the rulings heads to U.S. District Judge James Boasberg, an appointee of former President Obama who quashed the subpoenas to begin with. President Trump has publicly attacked Boasberg for ruling against his administration in several other high-profile cases.

The DOJ motion comes less than a week after Powell told reporters that he would stay on the Fed board after his chairmanship ends and would leave once he was confident that the criminal investigations into himself and the bank were over.

While Powell pledged to keep a “low profile” on the Fed board, his decision to stay infuriated some Trump administration figures and raised questions about the potential dynamic it could create at the bank.

Trump nominated former Fed board member Kevin Warsh to replace Powell as chair, and he is expected to be confirmed by the Senate before his likely predecessor’s term ends May 15.

Powell’s separate term as a member of the Fed board does not end until Jan. 31, 2028. He would be the first former Fed chief to stay on the board of governors after the end of his chairmanship since Marriner Eccles in 1948.

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