“Sell America” sentiment rippled through markets after the Trump administration escalated its attacks on the FED

The Trump administration's recent attacks on the Federal Reserve have sparked concerns over the central bank's independence, causing a slight dip in the dollar, Treasuries, and US equities futures. Chair Jerome Powell's revelation of grand jury subpoenas related to his congressional testimony on Fed renovations has reignited debates on the implications for US markets. Portfolio manager Gary Tan from Allspring Global Investments suggests that any threat to the Fed's independence could lead to diversification away from the dollar and increased interest in traditional hedges like gold.