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.
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.
