Federal Reserve Chairman Powell under criminal investigation, affecting confidence in the US market.

Recently, it was reported that federal prosecutors in the United States have launched a criminal investigation into Federal Reserve Chairman Powell. The criminal investigation against Powell mainly involves the renovation project led by Powell at the Fed's main office building. The renovation project, initially budgeted at about $1.9 billion in 2019, increased to nearly $2.5 billion due to a significant rise in construction material costs, being accused of being a "luxurious renovation." Powell issued a statement on the 11th responding to the allegations, saying that the federal prosecutors' charges against him are just "excuses." Some analysts point out that the actions of the Trump administration may lead to concerns that US monetary policy is being influenced by political pressure, shaking market confidence in Fed policy. If the Fed succumbs to pressure from the US government and unrealistically pursues low-interest rates, it may cause monetary policy to lose its role in regulating the economy and weaken the stability of the dollar and the US financial system.