Judge blocks subpoenas in criminal probe of Fed Chair Jerome Powell

Federal Reserve Chair Jerome Powell said he is being investigated over comments about the pricey renovations of the Fed's headquarters. The probe raises reputational and governance risks and could invite political scrutiny, but the report does not indicate any immediate implications for monetary policy or market-moving actions.

Analysis

Federal Reserve Chair Jerome Powell said he is being investigated over comments about the pricey renovations of the Fed's headquarters. The probe raises reputational and governance risks and could invite political scrutiny, but the report does not indicate any immediate implications for monetary policy or market-moving actions.