Strategists and economists at JPMorgan no longer expect the Fed to cut interest rates this year and see a rate hike next year
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Jerome Powell just dropped a bombshell. Federal prosecutors are officially investigating the Fed Chairman over a $2.5 billion renovation project. But according to Powell, this isn't about construction costs. It’s about independence. Here is what you need to know: The Charges: Grand jury subpoenas have been served regarding the $2.5B HQ renovation and Powell’s related testimony to Congress. The Conflict: Powell explicitly linked the probe to President Trump’s frustration over interest rate decisions. The Stakes: This isn't just a legal battle; it’s a fight for the soul of the central bank. Powell warns that if political pressure wins, evidence-based policy loses. The Market Reaction: Stock futures are already sliding as investors digest the news. Gold, Silver and Cryptos are up. The dollar is slightly down Why this matters for every professional: Central bank independence is the bedrock of global financial stability. If monetary policy becomes a political tool, the rules of the game change for everyone—from Wall Street to Main Street. Powell’s message is clear: Is the Fed driven by data or intimidation? The outcome of this investigation won't just impact Powell’s career—it will redefine the future of the Fed independence.
Will Trump follow through? Source : Polymarket
Source: Joe Weisenthal @TheStalwart Gallup

