DOJ confirms no criminal probe reopening for Jerome Powell

The noise around Powell potentially facing legal heat is officially dead. Department of Justice just shut down any speculation about revisiting a criminal investigation into the former Fed Chair.

For markets: This removes a layer of uncertainty around Fed credibility and monetary policy continuity. Powell's decisions on rates and liquidity have been polarizing, but legal drama would've been a whole different beast for risk assets.

No drama = status quo on macro. Back to watching CPI prints and rate cut timelines.