"In a post on X, U.S. Attorney Jeanine Pirro wrote that she started the probe because she got no response from her inquiries at the Fed. She may be backing away a littlethat's my sense. House Financial Services Chair French Hill says the investigation creates an unnecessary distraction. Maybe he wants to back away as well. He says the investigation could undermine Trump's future ability to make sound decisions. I think they're backing away. What do you say?"
"Bahnsen replied, Well, I definitely think they're backing away. I think President Trump wants them to back away, and I want to say Secretary [Scott] Bessent is pushing for them to back away. This was a really big unforced error. Varney agreed, saying, I think Just let it fade. That's all. Stop it now, let it fade. Bahnsen added, That's right, and markets helped do that yesterday by just sort of coming back into the day."
A criminal investigation targets Federal Reserve Chair Jerome Powell after U.S. Attorney Jeanine Pirro reported receiving no response to Fed inquiries. The probe has generated accusations that the Department of Justice is being weaponized to politicize the Federal Reserve. House Financial Services Chair French Hill called the investigation an unnecessary distraction that could undermine future presidential decision-making. Market analysts and some Republicans signaled pressure to allow the matter to fade, noting presidential and executive counsel influence and improving market reactions. Critics characterized the probe as an unforced error and urged halting it to avoid further political and market disruption.
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