President Trump’s feud with Fed Chair Powell escalates as Powell reveals DOJ threat over $700 million budget overrun. Threatened indictment seen as pretext for Trump’s dissatisfaction with interest rates. Senators from both parties defend Powell’s independence. Global central bank heads support Powell, warning of dire economic consequences if Fed independence is compromised. Powell warns of fundamental threat to Federal Reserve’s independence. Stock markets react negatively to potential indictment news. Fed independence crucial for stable economic performance. Fed independence under threat as Trump pressures Powell. Powell insists on setting interest rates independently. Inflation and interest rates could rise if Fed independence is eroded. Fed independence critical for economic stability. Fed faces pressure to maintain independence despite political interference.

Read more at Yahoo Finance: Trump admin’s criminal probe into Fed Chair raises fears about central bank independence and potential for inflation