Powell Probe Terminated, Paving the Way for Yellen's Fed Chair Confirmation, Further Heating Up Rate Cut Expectations

BlockBeats News, April 24th, Washington D.C. Prosecutor Pierce announced the halt of the investigation into Fed Chair Powell's Fed Building expenses. The Fed Inspector General was asked to review Fed expenditures. However, if necessary, the investigation will be restarted without hesitation.

According to CME's "FedWatch" data, by the end of this year, the probability of another 25 basis point rate cut by the Fed is 76%, a 50 basis point cut is 21.3%, a 75 basis point cut is 2.2%, a 100 basis point cut is 0.1%, and the probability of no rate cut is 0.4%.

Meanwhile, the halt of Powell's investigation has also paved the way for the confirmation of Kevin Warsh as Fed Chair. According to PolyBeats monitoring, the probability on the prediction market Polymarket of "Warsh being ultimately confirmed as Fed Chair" has increased, with the probability of confirmation by May 15th rising to 80% and by June 30th to 95%.