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Washington prosecutors announced the halt of the investigation into Powell, further increasing expectations of a Fed rate cut within the year.

MeNews
ME News: On April 24 (UTC+8), District of Washington U.S. prosecutor Piro announced the suspension of the investigation into Federal Reserve Chair Powell regarding the Federal Reserve building costs. He noted that although the investigation has been paused, the Federal Reserve’s spending will be reviewed by the Federal Reserve’s Inspector. In addition, Piro emphasized that if circumstances require it, he will not hesitate to restart the investigation into Powell. Meanwhile, federal funds rate swap pricing shows that market expectations for the Federal Reserve to cut interest rates this year have been further strengthened. (Source: MLion)
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