Trump attacks FED

The U.S. dollar dropped and markets grew uneasy after President Trump criticized Federal Reserve Chair Jay Powell, sparking concerns over the Fed’s independence and U.S. economic stability. Following Trump’s public attack on Powell and suggestions he might try to remove him, the dollar fell 1.1% to a three-year low , while investors rushed to safer assets. Gold surged 2.7% to a record high of $3,416.30 , and the Swiss franc hit its strongest level in a decade , gaining 1.2% against the dollar. The euro and yen also strengthened as investors reassessed U.S. assets. Bitcoin also gained amid the market uncertainty, rising 3.5% to $ 87 735 , as some investors turned to decentralized alternatives as a hedge against traditional financial instability. U.S. bond yields climbed as prices dropped, with 10-year Treasuries rising to 4.38%. Stock markets opened lower, with the S&P 500 falling 1.2% and the Nasdaq dropping 1.6%. Analysts noted these shifts reflected growing doubts about U.S. policy direction and fears of stagflation. The situation has raised alarms over potential political interference in monetary policy, which could undermine investor confidence.

Source: Coinpaprika