We begin with the big ruling, a major legal loss for Trump.

This is big news, and we're going to get into why it matters, a federal judge here,

quashing grand jury subpoenas in Trump's effort to harass the Federal Reserve to try to help him in the election.

I'll explain, but bottom line, Trump loses, Federal Reserve Chair Powell wins.

This is a blow to the whole thing. And in over 25 pages,

Trump learned he is powerless to do the kind of legal harassment that he's trying. I'll just tell you

some of the highlights coming out of this blistering rejection of what has been a pattern that

you've probably noticed, Trump trying to use or abuse federal powers in the DOJ

to go after anyone who disagrees with him.

The judge writes,

there's abundant evidence the subpoena's dominant, if not sole purpose,

is to harass and pressure Powell,

either to yield to the president

or to resign and make way for a Fed chair who will.

He adds on the other side of the scale,

the government has offered no evidence whatsoever

that Powell committed any crime other than displeasing the president.

And Catenzza subpoenas were merely part of a game plan

to pressure Powell to bend to the president's wishes or get rid of him.

That is a description of Donald Trump breaking the law. In other words, his attempted

subpoenas illegal. The judge says this was a pressure campaign. And of course, the administration

has targeted many of Trump's opponents, people who disagree with them, people who've exercised

...