DOJ Drops Criminal Probe of Fed Chair Powell, Clearing Path for Warsh

The U.S. Department of Justice has dropped its criminal investigation into Federal Reserve Chair Jerome Powell, removing a potential obstacle to Kevin Warsh’s nomination as the next Fed chair. The resolution of the probe reduces political and regulatory uncertainty surrounding leadership continuity at the central bank, shifting market focus toward Warsh’s known hawkish monetary stance. This development strengthens expectations of sustained tighter policy, reinforcing the dollar and putting downward pressure on rate-sensitive assets, including long-duration equities and cryptocurrencies. Traders will now closely watch Warsh’s upcoming Senate confirmation hearing as the key near-term catalyst for directional moves in interest rate futures and the U.S. dollar. The POWELL token, a sentiment-driven asset tied to Fed leadership dynamics, is likely to face selling pressure as market repricing accelerates.

HIGH-impact news is typically a market-moving event with multi-pip or multi-percent intraday reactions. Examples include central bank rate decisions, major CPI/NFP releases, geopolitical shocks, mega-cap earnings beats/misses, and regulatory announcements. Traders typically position-reduce or hedge ahead of scheduled HIGH-impact events, and follow the wire in real time to react to unscheduled ones (war headlines, central-bank emergency statements, surprise corporate actions). The Trading News Terminal squawk box reads every HIGH-impact headline aloud the moment it hits the wire — so active traders don't have to stare at the feed.

Active traders typically follow a three-step workflow when a market-moving headline hits the wire: (1) read the headline on the terminal or hear it on the squawk box; (2) assess whether the news is already priced in (by checking intraday price action in the seconds before) or whether it's genuinely new information; (3) act — either entering a breakout position, fading an overreaction, or tightening stops on existing trades. Trading News Terminal's Pro plan delivers wire-grade headlines within seconds of the source, with automatic audio squawk on every HIGH-impact event, so the read-assess-act cycle never waits on a refresh button.