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House Speaker Johnson says he'll let Powell probe 'play out'

BY Reuters | ECONOMIC | 01/12/26 02:26 PM EST

Jan 12 (Reuters) - U.S. House of Representatives Speaker Mike Johnson on Monday said he ?would not try ?to stop a Department of ?Justice probe into ?Federal ?Reserve Chair Jerome Powell that the ?Fed ?chief has called a pretext for ?the Trump administration ?to ?gain sway over the central bank's interest-rate setting.

"We're going ?to let the investigation play out," Johnson told reporters. "There's concern about cost-overruns. ?Whatever the ?allegations are, I don't know. I ?wasn't involved in that. It's something that you have to look into. And so, we'll have ?to reserve judgement." (Reporting by David Morgan, writing by Ann ?Saphir; Editing by Chizu Nomiyama )

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In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

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