Instead of Lower for Longer It's Powell for Longer, PGIM's Greg Peters

Federal Reserve Chair Jerome Powell said he plans to stay at the central bank until a Justice Department investigation into him and the central bank is complete. “I have no intention of leaving the board until the investigation is well and truly over, with transparency and finality,” Powell said Wednesday at a press conference. The comments marked the first time Powell has given any public indication about how the DOJ probe might affect his plans to remain at the Fed. Greg Peters, Co-Chief Investment Officer of Public and Private Fixed Income at PGIM, said the news moved markets (Source: Bloomberg)