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Wells Fargo CDR (CAD Hedged)
Symbol WFCS
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Close 2026-04-02 C$ 22.48
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Globe/wire say BofA sees Fed chair subpoenas blocked

2026-04-06 07:59 ET - In the News

See In the News (C-BOFA) Bank of America CDR (CAD Hedged)

The Globe and Mail reports in its Saturday edition that United States district Judge James Boasberg in Washington has reaffirmed his decision to block subpoenas in a criminal investigation into Federal Reserve chair Jerome Powell, likely leading to an appeal that may delay President Donald Trump's efforts to appoint a more compliant central bank head. A Reuters dispatch to The Globe reports that the ruling halts the criminal probe into Mr. Powell. Justice Boasberg ruled on March 13 that January subpoenas to the Fed's board of governors were improperly aimed at pressuring Mr. Powell to cut rates or resign. The subpoenas, issued by Jeanine Pirro, a stalwart Trump ally, sought information about cost overruns in renovations at the Fed's headquarters and Mr. Powell's testimony to Congress last year about the project. Justice Boasberg, in Friday's ruling, said Ms. Pirro's office had "not come close to convincing the court that a different outcome is warranted," adding that prosecutors had a "total lack of a good-faith basis to suspect a crime." "The government's fundamental problem is that it has presented no evidence whatsoever of fraud," wrote Justice Boasberg, who was appointed by Democratic President Barack Obama.

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