Judge keeps Fed investigation losses on the record

A federal judge in Washington has refused to erase earlier court losses tied to the Justice Department’s attempt to investigate the Federal Reserve over its headquarters renovation costs. Chief Judge James Boasberg said the government could not simply vacate prior rulings after the investigation was dropped. He wrote that keeping the decisions on the record serves the public interest and preserves legal reasoning that other courts may consider. The case centered on subpoenas issued by U.S. Attorney Jeanine Pirro’s office during a monthslong effort involving former Fed Chair Jerome Powell. Boasberg had previously blocked the subpoenas, saying the effort appeared partly aimed at pressuring Powell amid the Trump administration’s push for lower interest rates. The Fed declined to comment, and Pirro’s office did not immediately respond.