The Federal Reserve is privately challenging two subpoenas issued in U.S. Attorney Jeanine Pirro‘s criminal investigation into Chair Jerome Powell.
The Fed is seeking a judge’s dismissal of the subpoenas in sealed proceedings, which could potentially reduce or eliminate its obligation to respond, The Wall Street Journal reported on Thursday.
The Federal Reserve has not disclosed the specific legal grounds it is asserting in the case. However, it is common in high-profile matters for parties to challenge subpoenas as overly broad or as seeking information protected by legal privilege.
This legal battle is happening behind closed doors due to secrecy rules applicable to criminal investigations pending before a grand jury.
The Federal Reserve did not immediately respond to Benzinga‘s request for comment.
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