Powell criminal probe upends Trump's search for a new Fed chair

White House economic advisor Kevin Hassett (left) and former Fed Gov. Kevin Warsh are leading prediction market odds for the likehood of becoming President Donald Trump's pick to lead the Federal Reserve.

AP, Getty, and Reuters

• President Donald Trump's efforts to replace Jerome Powell have taken a shocking turn.
• The Fed chair revealed that he is under a criminal investigation, a probe he views as retaliatory in nature.
• In the meantime, Trump continues to mull who he will name to replace Powell.