"Fox News Sunday" anchor Chris Wallace said he believes investigations and lawsuits will follow in the wake of former Special Counsel Robert Mueller's testimonies this week -- but he finds it unlikely that impeachment talks will hold weight.

Appearing on "The Daily Briefing" on Thursday, Wallace said Democrats will likely continue their investigations for months to come, calling it a "holding action by Nancy Pelosi and House leadership," who are not quite as sold on the idea of impeachment as many of their fellow Democrats in Congress.

Many Democrats were hoping for a "bombshell" on Wednesday when special Counsel Robert Mueller discussed his findings of the Russia investigation before two House committees on Capitol Hill.

Mueller, who warned earlier that he had no additional information to offer, stuck strictly to his report, often referencing its contents during the rapid-fire questioning.

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Following Wednesday's hearings, Democratic lawmakers -- including House Judiciary Committee Chairman Jerry Nadler pushed to launch impeachment proceedings against Trump, while Republicans preferred to "close the case" on the two-year investigation.

House Speaker Nancy Pelosi dismissed calls for impeachment, saying she would continue with the investigation and make a decision upon conclusion.

"I think it would be a tremendous political waste of time," Wallace said, adding that the chances of getting the required 20 Republicans and all 47 Democrats in the Senate to vote in favor of impeachment are almost nonexistent.

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Wallace also called Wednesday's hearing a "big disappointment" to the "pro-impeachment camp," who were banking on Mueller to make a strong case in their favor.

Weighing in from the campaign trail, 2020 presidential candidate Joe Biden said Congress would have "no choice but to file articles of impeachment," if they "continue to stonewall the information available entitled to Congress."

Asked whether he'd consider Mueller's hearings a win for the President, Wallace said that although it did not leave the president with "a clean bill of health," it ultimately boiled down to one thing.

"If you are Donald Trump, you have to ask yourself are you closer or further away from impeachment at the end of every day...and impeachment was an even more distant prospect at the end of the day than it was at the beginning," he said.

"Unless there is some huge piece of new information that comes out, the Congress is not going to impeach Donald Trump. For 22 months they investigated...but the country seems to have made up their mind-both the members of Congress and the American public, that they don't want to see this president impeached."

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Reiterating his point, Wallace said he believes the impeachment momentum will die down as the House begins their six-week recess next month.