Sonja Hutson

Hi, Claire.

So, Claire, just to back up for a minute, remind us what this probe was all about.

So Tillis essentially got what he wanted.

He got the Department of Justice to drop this criminal investigation into Powell.

And as a result of that, has now said that he is not going to block Walsh's nomination.

Does this mean that Walsh will get confirmed?

Claire, something I'm wondering about is, is there anything stopping the Trump administration from reopening the investigation into Powell after they get what they wanted, which is Warsh getting confirmed?

Claire, this has been quite a saga.

And, you know, we haven't even touched on some of the other ways that Trump has potentially attacked the independence of the Fed.

What kind of environment is Warsh stepping into, you know, if and when he does take the helm at the Fed?

Claire Jones is the FT's U.S.

economics editor.

Thanks, Claire.

Speaking of central banks, several major ones are meeting this week.

They include the Fed, the European Central Bank, and the Bank of England.

They're all expected to hold off on raising interest rates.

You see, the energy price shock from the U.S.-Iran war is making inflation harder to predict.

That's partially driven by social media posts from President Donald Trump.

Traders have struggled with the volatility caused by his frequent posts and the responses from the Iranian regime.

Monetary policymakers are now relying less on single forecasts.