Judge blocks Justice Department subpoenas of Federal Reserve Chair Powell

A federal judge threw out subpoenas from the Justice Department that sought to compel testimony from Federal Reserve Chair Jerome Powell. The judge called the evidence for the investigation 'thin,' and the Justice Department plans to appeal the ruling.

Separately, the Fed is dealing with stubborn inflation and a weak jobs report, which complicates decisions on interest rates. Goldman Sachs delayed its forecast for a Fed rate cut, citing inflation risks from the war in the Middle East, and the Fed is also preparing to relax capital requirements for large banks.