Post #3867

🇺🇸🏛️💰Powell Probe Fuels Fed Independence Fears; Gold Rallies, Market Reacts U.S. federal prosecutors have initiated a criminal investigation into Federal Reserve Chair Jerome Powell. The inquiry centers on the Fed's $2.5 billion headquarters renovation and allegations of false statements to Congress. This investigation intensifies existing tensions between the Fed and political figures. Following the investigation's opening, gold surged to a record high, and futures on leading indices traded lower, reflecting investor fears of a politicized Fed and its impact on inflation. Analysts warn this is no longer a personal matter for Powell, but a threat to the Fed's independence, triggering a 'risk-off' sentiment. The Fed is expected to refrain from further cuts at its upcoming meeting, awaiting clarity on inflation and economic conditions. Minas Tirith | 24/7 News channel | Updated