A recently emerged interesting news story involves the U.S. Attorney's Office for the District of Columbia conducting a criminal investigation into Federal Reserve Chair Powell. This matter involves renovations at the Federal Reserve headquarters, as well as whether Powell made false statements to Congress regarding the project's scope.
According to information disclosed by informed officials, the investigation's scope includes analysis of Powell's public statements and comprehensive review of related expenditure records. This investigation was approved back in November of last year. It is being led by U.S. Attorney Kisliak Pirro — a long-time ally of Trump. It remains unclear whether Pirro has convened a grand jury or issued subpoenas, but prosecutors in her office have contacted Powell's staff multiple times requesting documents related to the renovation project.
What is the background? Trump has been publicly attacking Powell, for a simple reason — his refusal to implement steep rate cuts as Trump demands. Trump has even threatened to remove Powell from office and threatened to sue over the $2.5 billion Federal Reserve renovation project, accusing Powell of "incompetence."
What does this mean for the crypto market? Simply put, changes in Federal Reserve policy directly affect overall market liquidity and risk appetite. If this investigation ultimately impacts the Federal Reserve's independence or Powell's policy direction, the timeline for rate cuts may face new variables. This will have cascading effects on price expectations for BNB, ETH, and other major cryptocurrencies. Investors need to closely monitor how this situation develops.
A recently emerged interesting news story involves the U.S. Attorney's Office for the District of Columbia conducting a criminal investigation into Federal Reserve Chair Powell. This matter involves renovations at the Federal Reserve headquarters, as well as whether Powell made false statements to Congress regarding the project's scope.
According to information disclosed by informed officials, the investigation's scope includes analysis of Powell's public statements and comprehensive review of related expenditure records. This investigation was approved back in November of last year. It is being led by U.S. Attorney Kisliak Pirro — a long-time ally of Trump. It remains unclear whether Pirro has convened a grand jury or issued subpoenas, but prosecutors in her office have contacted Powell's staff multiple times requesting documents related to the renovation project.
What is the background? Trump has been publicly attacking Powell, for a simple reason — his refusal to implement steep rate cuts as Trump demands. Trump has even threatened to remove Powell from office and threatened to sue over the $2.5 billion Federal Reserve renovation project, accusing Powell of "incompetence."
What does this mean for the crypto market? Simply put, changes in Federal Reserve policy directly affect overall market liquidity and risk appetite. If this investigation ultimately impacts the Federal Reserve's independence or Powell's policy direction, the timeline for rate cuts may face new variables. This will have cascading effects on price expectations for BNB, ETH, and other major cryptocurrencies. Investors need to closely monitor how this situation develops.