The investigation of Federal Reserve Chair Jerome Powell by US prosecutors is not just a legal story.
It is a political earthquake.
Powell himself has described the move as a direct attack on the independence of the Federal Reserve.
One thing is clear: the struggle for control of US monetary policy is no longer theoretical - it is happening in real time.
Macro Watch subscribers have been warned about this for months.
Since December 2024, Macro Watch has consistently argued that President Trump would use every tool available to bring US monetary policy under his direct control, one way or another. What we are witnessing now fits squarely within that framework.
To understand what may come next - and why this moment matters so much - this is an excellent time to revisit three Macro Watch videos that laid out these risks in advance.
Subscribers to Macro Watch can click here to watch these videos now:
• Will Trump End The Fed? (December 3, 2024)
• Trump’s Conquest of The Fed Will Unleash Wealth Bonanza, Dollar Crash, State-Directed Capitalism (August 26, 2025)
• Would a Trump Takeover of the Fed Be a Good Thing? (October 9, 2025)
[Just scroll down the video page until the dates shown above.]
These videos explore how a loss of Fed independence could reshape interest rates, inflation, asset prices, capital allocation, and the global role of the dollar - and why the consequences could be far larger than most investors currently appreciate.
If you are not yet a subscriber and want to understand where this confrontation could lead:
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The battle for control of money is the most important political and economic fight of our time.
Ignoring it would be a costly mistake.
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