CNBC4/24/2026Business
Fed Poised for Regime Change as DOJ Drops Powell Investigation, Rates Expected to Hold Steady
Central bank faces uncertainty with Iran war driving crude prices up 55% and consumer confidence at record low
Quick Look
- The Federal Reserve is set for leadership transition after the DOJ dropped its criminal investigation into Chair Jerome Powell, clearing the way for Kevin Warsh's confirmation.
- The Fed is expected to hold interest rates steady at next week's policy meeting — likely Powell's last — as inflation pressures mount from a 55% surge in Brent crude since the Iran war began.
- Consumer confidence has hit an all-time low, with employers pausing hiring plans and Americans facing higher costs across credit cards, auto loans and mortgages.
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The Federal Reserve is set for leadership transition after the DOJ dropped its criminal investigation into Chair Jerome Powell, clearing the way for Kevin Warsh's confirmation. The Fed is expected to hold interest rates steady at next week's policy meeting — likely Powell's last — as inflation pressures mount from a 55% surge in Brent crude since the Iran war began. Consumer confidence has hit an all-time low, with employers pausing hiring plans and Americans facing higher costs across credit cards, auto loans and mortgages.
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This article was originally published by CNBC.
