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                          Justice Department Will End Probe of Jerome Powell, Opening Path for Kevin Warsh

The Justice Department ended its criminal investigation of Federal Reserve Chair Jerome Powell, clearing the way for Kevin Warsh’s confirmation.
U.S. Attorney Jeanine Pirro announced the probe’s closure, which focused on Powell’s testimony about Fed building renovation costs.
Sen. Thom Tillis (R., N.C.) had blocked Warsh’s nomination, stating he would not advance any Fed nominee while the investigation remained open.

                          April’s Consumer Sentiment Is the Lowest on Record

University of Michigan’s consumer-sentiment index dropped to a record low of 49.8 in April due to Iran war anxiety.
Despite the sour mood, U.S. retailers reported solid sales gains in March, and banks said household finances are holding up.
Consumers’ expectations of inflation in the year ahead surged in April.

                          Canadian Retail Sales Improve Ahead of Expected Squeeze

Canadians’ retail spending rebounded in the first quarter of 2026, with sales up 0.7% in February and an estimated 0.6% in March.
Consumer resilience is expected to be tested by a jump in fuel costs, which could moderate spending.
The duration of the Iran war will likely influence how far consumers pull back.

                          U.S. Regulator Sues New York State for Prediction Markets Crackdown

The Commodity Futures Trading Commission sued New York state, seeking exclusive authority to regulate prediction markets.
The lawsuit follows New York Attorney General Letitia James’s office suing Coinbase and Gemini over prediction market platforms.
CFTC Chairman Michael Selig stated the agency will not allow states to undermine its authority; similar suits were filed in other states.

                          Arrest of U.S. Soldier Signals Polymarket’s Wild-West Days Are Ending

A U.S. Army Special Forces master sergeant was arrested for using classified information to make over $400,000 on Polymarket, the first U.S. prosecution.
A tougher government stance on prediction markets highlights a collision between the Trump administration’s policies and his family’s business interests in prediction markets.
Polymarket amended its rules to prohibit insider trading and cooperated with the Justice Department, while rolling out a CFTC-regulated platform.

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                    WSJ Pro Central Banking brings you news and analysis from a global team of reporters and editors at The Wall Street Journal and Dow Jones Newswires. Send your tips, suggestions and feedback to service@dowjones.com. An artificial-intelligence tool created these summaries, which are based on the text of the article and checked by an editor. Read more about how we use artificial intelligence in our journalism.

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