The federal prosecutor in Washington D.C. has taken action. An announcement was made that the investigation into Fed Chair Powell's construction expenses has been temporarily halted. This has become quite a topic of discussion, but honestly, the market seems more concerned with other aspects.

According to federal prosecutor Robert Piro, the investigation has been temporarily suspended, but there remains the possibility of resuming it if necessary. Since the Fed's inspectors had been requesting an expenditure review, this decision drew attention.

However, what truly warrants close attention here is the stance of the Federal Reserve's monetary policy. Looking at the price movements of the federal funds rate swaps, the market is further increasing its expectations for a rate cut by the Fed this year. In other words, for market participants, the policy direction of the Fed under Chairman Powell is far more important than his personal issues.

How political developments in Washington D.C. will intertwine with market expectations is likely to be the focus moving forward.