BlockBeats News, February 27 — According to The Wall Street Journal citing sources familiar with the matter, the Federal Reserve is secretly initiating legal challenges in response to two subpoenas issued by U.S. Prosecutor Jeanine Pirro in a criminal investigation against Powell. Pirro is a long-time ally of President Trump and launched this investigation to examine Powell's false statements to Congress last summer regarding the Fed building renovation project. This move prompted Powell to respond publicly for the first time, stating in a video statement on January 11 that the investigation is a pretext for Trump’s ongoing pressure on the Fed to cut rates and weaken the central bank’s independence. In secret proceedings, the Fed is requesting a judge to quash the subpoenas to reduce or eliminate its response obligations. The specific legal arguments have not been disclosed. In high-profile investigations, it is not uncommon for subpoena recipients to question whether the requests are overly broad or involve information protected by legal privileges. Due to confidentiality rules applicable to criminal investigations in grand jury proceedings, this legal battle is quietly ongoing and not open to the public.