US DOJ Probe of Fed Chair Powell Poses Substantial Risks to US Dollar, ING Warns

The US Department of Justice's criminal probe into Federal Reserve Chair Jerome Powell may have substantial downside risks to the US dollar, according to ING. The investigation, which is reportedly focusing on Powell's role in the 2021 GameStop short squeeze, could potentially damage the Fed's credibility and erode confidence in the US dollar. This could lead to a decline in the dollar's value.