U.S. Federal Judge James Boasberg has dismissed a Department of Justice subpoena against the Federal Reserve and its Chair, Jay Powell, halting a criminal investigation related to cost overruns on the Fed's $2.5 billion headquarters renovation project. The judge stated that evidence of criminal conduct provided by the Trump administration was "virtually nonexistent," and suggested the subpoena aimed to pressure Powell into lowering interest rates or resigning. Washington D.C. federal prosecutor Jeanine Pirro announced plans to appeal the decision. Meanwhile, North Carolina Republican Senator Thom Tillis vowed to block the confirmation of Fed Chair nominee Kevin Warsh until the investigation into Powell is fully resolved.