The dismissal of the U.S. Department of Justice criminal investigation into Jerome Powell in April 2026 without charges continues to anchor trader sentiment on markets assessing any federal indictment by year-end. Prosecutors found insufficient evidence tied to Federal Reserve headquarters renovations or congressional testimony, prompting a federal judge to quash related subpoenas. Powell’s shift from Fed chair in May 2026 to a governor role through 2028 has further lowered his policy exposure, consistent with market-implied odds below 5 percent for charges. While polarized political dynamics could theoretically surface renewed scrutiny, the absence of active proceedings and judicial findings of no wrongdoing underpin the strong consensus reflected in real-capital trading. No major catalysts such as earnings, data releases, or hearings appear imminent that would alter this trajectory.