The plot thickens — then unthickens
The Justice Department is reportedly closing its criminal investigation into Federal Reserve Chair Jay Powell. That’s the sort of headline that sounds like it was dreamed up by a political thriller writer on a caffeine bender, but here we are.
Why markets should care
Powell sits at the center of the rate-cut/rate-hike soap opera, so anything that adds drama around him can spill into markets. If the investigation is actually ending, that removes a layer of uncertainty hanging over the Fed — and investors generally prefer their central bankers boring, not tabloid-famous.
Big picture
This isn’t a company-specific catalyst, but it does matter for the broader market mood. Less legal noise around the Fed means traders can go back to obsessing over the usual stuff: inflation, jobs, and whether Powell is about to ruin everyone’s day at the next press conference.