Powell investigation over? Fed rate cut expectations rise.

The probability of a Fed rate cut has increased due to the halt of the Powell investigation.

Last night, Washington prosecutors announced halting the investigation into Powell regarding the cost of Fed restructuring. The biggest reason behind this is to allow the Senate to pass the nomination of the new chairman, Warsh, more quickly.

Although the White House has recently denied it, they are well aware that as long as the investigation continues, Warsh's appointment will face obstacles. So, ending the investigation is just a matter of time.

After the news came out, expectations for a Fed rate cut further increased. We can also see that the latest probability of a rate cut this year has already reached 38%.

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