According to FT, US federal judge James Boasberg dismissed the Department of Justice subpoena issued against the Federal Reserve and its chairman Jay Powell, halting a criminal investigation related to cost overruns on the Federal Reserve's $2.5 billion headquarters renovation project. In his ruling, the judge stated that the Trump administration provided "essentially zero" evidence of criminal wrongdoing, and that the primary purpose of issuing the subpoena was to pressure Powell to cut interest rates or force his resignation. In response to the ruling, Washington D.C. federal prosecutor Jeanine Pirro stated that she will appeal. Additionally, North Carolina Republican Senator Thom Tillis stated that he will continue to block the Senate confirmation process for the next Federal Reserve chairman nominee Kevin Warsh until the investigation into Powell is completely resolved.