Source: Reuters
“The dollar and Wall Street futures dropped and gold jumped on Monday as Federal Reserve Chair Jerome Powell said the Trump administration had threatened him with a criminal indictment over the refurbishment of the central bank’s headquarters. … S&P 500 futures fell more than 0.5%, while safe-haven gold – which investors buy as hedge against both turmoil and inflation – hit another record high as money markets priced in a slightly higher chance of short-term U.S. interest rate cuts. … Fed chief Powell had responded to the Trump administration’s threat of a criminal indictment by calling it a ‘pretext’ aimed at pressuring the central bank to cut interest rates.” (01/12/26)