Bessent to Trump: Powell Probe Could Rattle Markets

Treasury Secretary Scott Bessent warned President Trump that the federal investigation into Federal Reserve Chair Jerome Powell has already “made a mess” and risks unsettling financial markets, Axios reports. Bessent, described by sources as visibly frustrated, told Trump the probe could have negative consequences for investor confidence and the broader economy. His concerns appeared to play out quickly: On Monday, the dollar fell while bond yields and gold prices rose, reflecting market unease over potential political interference in the Fed.