US Attorney Pirro Says Powell Is Not Above the Law

A federal judge blocked a federal probe into Federal Reserve Chair Jerome Powell; US Attorney for the District of Columbia Jeanine Pirro condemned the ruling and said her office will appeal, asserting 'no one is above the law.' The development increases legal and political uncertainty around oversight of the Fed Chair but is unlikely to produce an immediate direct market move.

Analysis

A federal judge blocked a federal probe into Federal Reserve Chair Jerome Powell; US Attorney for the District of Columbia Jeanine Pirro condemned the ruling and said her office will appeal, asserting 'no one is above the law.' The development increases legal and political uncertainty around oversight of the Fed Chair but is unlikely to produce an immediate direct market move.