DOJ Dropping Powell Probe Is a Step in the Right Direction, French Hill Says

Summary

Rep. French Hill discusses the DOJ dropping its investigation into Fed building costs, calling it a positive step that could facilitate Kevin Warsh's confirmation as Fed chair. He also addresses the Strait of Hormuz disruption, warning that oil markets may be underestimating the risk of prolonged conflict.

• DOJ drops criminal probe into Fed building costs.
• Hill says probe was a distraction and could have delayed new Fed chair.
• Hill expects Powell to leave the Fed once probe ends.
• Hill supports Kevin Warsh as new Fed chair.
• Hill notes oil markets may be underpricing disruption risk in the Gulf.
• Hill says longer disruption leads to price and volatility concerns.
• Hill commends president's tough stance on Iran despite economic risks.