NEW YORK (AP) — Transcripts of grand jury testimony that led to sex trafficking charges against Jeffrey Epstein’s longtime confidante Ghislaine Maxwell shouldn’t be released, a judge ruled Monday in a stinging decision suggesting the Trump administration’s real motive for wanting them unsealed was to fool the public with an “illusion” of transparency.

U.S. District Judge Paul A. Engelmayer said in a written decision that federal law almost never allows for the release of grand jury materials and that making the documents public casually was a bad idea.

The judge also belittled the Justice Department’s argument that releasing grand jury materials might reveal new information about Epstein’s and Maxwell’s crimes, calling that premise “demonstrably false.”

The decision was a blow to President Donald Trump, who had called for the release of transcripts as he seeks to dispel rumors and quell criticism about his long ago involvement with Epstein, who killed himself in jail in 2019. Trump campaigned on a promise to release files related to Epstein, but was met with criticism — including from many of his own supporters — when the small number of records released by his Justice Department lacked any real bombshells.

Transcripts reveal ‘next to nothing new,’ judge says

In his ruling, Engelmayer wrote that after privately reviewing the grand jury transcripts, anyone familiar with the evidence from Maxwell’s 2021 sex trafficking trial would “learn next to nothing new” and “would come away feeling disappointed and misled.”

“The materials do not identify any person other than Epstein and Maxwell as having had sexual contact with a minor. They do not discuss or identify any client of Epstein’s or Maxwell’s. They do not reveal any heretofore unknown means or methods of Epstein’s or Maxwell’s crimes,” Engelmayer said.

He said the materials also don’t reveal new locations where crimes occurred, new sources of Maxwell and Epstein’s wealth, the circumstances of Epstein’s death or the path of the government investigation.

The best argument to release the transcripts might be that “doing so would expose as disingenuous the Government’s public explanations for moving to unseal,” Engelmayer wrote.

“A member of the public, appreciating that the Maxwell grand jury materials do not contribute anything to public knowledge, might conclude that the Government’s motion for their unsealing was aimed not at ‘transparency’ but at diversion — aimed not at full disclosure but at the illusion of such,” he said.

Another federal judge is weighing whether to release transcripts from the separate grand jury proceeding that led to Epstein’s indictment.

Florida lawyer Brad Edwards, who has represented nearly two dozen Epstein accusers, said he didn’t disagree with the ruling and most wanted to protect victims. “The grand jury materials contain very little in the way of evidentiary value anyway,” he said.

Maxwell, Epstein’s ex-girlfriend, is serving a 20-year prison sentence for helping Epstein sexually abuse several underage girls. Her lawyer, Bobbi Sternheim, declined comment. The Justice Department did not respond to requests for comment.

Decision comes amid a renewed fervor over Epstein case

The Epstein saga has again become a national flashpoint years after Epstein served jail time and registered as a sex offender after pleading guilty to Florida prostitution offenses in a 2008 deal that let him avoid federal charges then.

President Donald Trump raised questions about Epstein’s death, and Trump allies stoked conspiracy theories that dark secrets were covered up to protect powerful people. Some of those allies got powerful positions in Trump’s Justice Department and promised to pull back the curtain on the Epstein investigation — but then announced this summer nothing more would be released and a long-rumored Epstein “client list” doesn’t exist.

The about-face amplified the clamor for transparency. After trying unsuccessfully to change the subject and denigrating his own supporters for not moving on, Trump told Attorney General Pam Bondi to ask courts to unseal the grand jury transcripts.

With pressure mounting in recent weeks, the Justice Department’s second-in-command, Todd Blanche, recently interviewed Maxwell over two days in an effort to show that the Trump administration was serious about looking for any additional evidence of misconduct.

Maxwell was moved from a federal prison in Florida to a prison camp in Texas after speaking with Blanche.

The Republican-led House Oversight Committee subpoenaed the Justice Department for Epstein-related files and has moved to interview former President Bill Clinton, who was among a number of luminaries once acquainted with Epstein.

The decision about the grand jury transcripts in Maxwell’s case doesn’t affect thousands of other pages the government possesses but has declined to release. The Justice Department has said much of the material was court-sealed to protect victims and little of it would’ve come out if Epstein had gone to trial.

A federal judge in Florida declined to release grand jury documents from an investigation there in 2005 and 2007.

Maxwell, who’s appealing her conviction, opposed unsealing the documents.

NEW YORK (AP) — A top official at the Federal Reserve said Saturday that this month’s stunning, weaker-than-expected report on the U.S. job market is strengthening her belief that interest rates should be lower.

Michelle Bowman was one of two Fed officials who voted a week and a half ago in favor of cutting interest rates. Such a move could help boost the economy by making it cheaper for people to borrow money to buy a house or a car, but it could also threaten to push inflation higher.

Bowman and a fellow dissenter lost out after nine other Fed officials voted to keep interest rates steady, as the Fed has been doing all year. The Fed’s chair, Jerome Powell, has been adamant that he wants to wait for more data about how President Donald Trump’s tariffs are affecting inflation before the Fed makes its next move.

At a speech during a bankers’ conference in Colorado on Saturday, Bowman said that “the latest labor market data reinforce my view” that the Fed should cut interest rates three times this year. The Fed has only three meetings left on the schedule in 2025.

The jobs report that arrived last week, only a couple of days after the Fed voted on interest rates, showed that employers hired far fewer workers last month than economists expected. It also said that hiring in prior months was much lower than initially thought.

On inflation, meanwhile, Bowman said she is getting more confident that Trump’s tariffs “will not present a persistent shock to inflation” and sees it moving closer to the Fed’s 2% target. Inflation has come down substantially since hitting a peak above 9% after the pandemic, but it has been stubbornly remaining above 2%.

The Fed’s job is to keep the job market strong, while keeping a lid on inflation. Its challenge is that it has one main tool to affect both those areas, and helping one by moving interest rates up or down often means hurting the other.

A fear is that Trump’s tariffs could box in the Federal Reserve by sticking the economy in a worst-case scenario called “stagflation,” where the economy stagnates but inflation is high. The Fed has no good tool to fix that, and it would likely have to prioritize either the job market or inflation before helping the other.

On Wall Street, expectations are that the Fed will have to cut interest rates at its next meeting in September after the U.S. jobs report came in so much below economists’ expectations.

Trump has been calling angrily for lower interest rates, often personally insulting Powell while doing so. He has the opportunity to add another person to the Fed’s board of governors after an appointee of former President Joe Biden stepped down recently.