Trump Denies Involvement in Fed Subpoena as Powell Vows Independence
U.S. President Donald TRUMP has publicly denied any involvement in the subpoena targeting Federal Reserve Chair Jerome Powell, stating he "knows absolutely nothing about it." The unprecedented move comes amid escalating tensions between the White House and the central bank.
Powell, in a video message released by the Federal Reserve, pledged to resist political pressure. "The Fed will not bow to intimidation," he declared, emphasizing that monetary policy decisions are based solely on economic data rather than presidential preferences.
The confrontation highlights growing institutional stress as the Trump administration continues its public criticism of Fed policy. Market analysts suggest such political uncertainty could increase volatility across asset classes, including cryptocurrencies traditionally seen as hedges against institutional instability.
