U.S. Markets Start Week in Turmoil as Powell Fights Back Against DOJ Threat

U.S. and global financial markets opened the week with heightened volatility as Federal Reserve Chair **Jerome Powell** directly confronted an unprecedented **criminal threat from the U.S. Department of Justice**. The DOJ has reportedly subpoenaed Powell over his comments regarding a costly Fed headquarters renovation, a move Powell called a **“pretext” aimed at pressuring the central bank on interest rates**. This escalation underscores rising tension between Powell and President **Donald Trump** over control of monetary policy — with Trump seeking lower rates. Investors reacted forcefully: U.S. stock futures dipped, the U.S. dollar weakened sharply, and gold surged above record levels above $4,600/oz as traders sought safe havens. Powell’s forceful rebuttal marks a rare public battle with political pressure, and his term’s upcoming expiration in May intensifies debate over the Fed’s independence. Markets also absorbed other macro developments, including Iranian unrest and evolving geopolitical risks, while oil prices showed only muted responses despite the broader uncertainty. Across global markets, sentiments remained cautious, with safe-haven currencies like the Swiss franc gaining ground. #FederalReserve #MarketVolatility #GoldPrices #FedIndependence #SlimScan #GrowthStocks #CANSLIM