📰 【Powell Investigation Ends, Waller’s Path to Fed Chair Becomes Smoother, Rate Cut Expectations Heat Up】

BlockBeats reports that on April 24, prosecutor Piro in Washington, D.C., said that they will stop the Federal Reserve building cost investigation into Federal Reserve Chair Powell. The Federal Reserve’s Inspector General has been asked to review Federal Reserve spending. But if necessary, the investigation will be restarted without hesitation. According to CME’s “FedWatch” data, by the end of this year, the probability that the Federal Reserve will cut rates by an additional 25 basis points is 76%, the probability of a 50 basis point cut is 21.3%, the probability of a 75 basis point cut is 2.2%, the probability of a 100 basis point cut is 0.1%, and the probability of no rate cut is 0.4%. At the same time, the decision to end the Powell investigation also clears the way for Kevin Waller’s nomination and confirmation as Federal Reserve chair...

Has the Powell investigation ended? It should have ended long ago. These politicians fiddle around and in the end it’s still Waller who gets to take the job. The market is buying this narrative: rate cut expectations have surged to 76%—no wonder BTC isn’t rising. Don’t talk to me about fundamentals; liquidity is the only faith.