- Jaw-dropping. The Trump administration is weaponising the Department of Justice to intimidate the Fed chair through the threat of criminal proceedings. Hard to imagine markets simply shrugging off such a blatant attack on central bank independence.
- Video message from Federal Reserve Chair Jerome H. Powell: www.youtube.com/watch?v=KckG... www.federalreserve.gov/newsevents/s...
- Update Well, markets did largely shrug it off. Seemingly the constant torrent of shocking news has become the new normal. Still, the weaker dollar and record gold and silver prices are indicators of ill-ease. An uptick in inflation or fiscal stress could trigger a reappraisal.
